Tuesday, April 18, 2017

5 Alarming Facts About America’s $1.3 Trillion in Student Loan Debt - Eric Pianin, Fiscal Times

At a staggering $1.3 trillion, outstanding student loan debt is casting a financial pall on millions of Americans, according to a new study by the bank. A college degree generally gives people a leg up in buying a home and achieving other middle-class goals. However, holding debt is associated with a lower rate of homeownership, irrespective of degree type, according to the report. “Those with significant student debt are much less likely to own a home at any given age than those who completed their education with little or no student debt,” William Dudley, president of the New York Fed, told reporters on Monday. “Of course, home ownership is more than just consumption — it has historically been an important form of wealth accumulation.” http://www.thefiscaltimes.com/2017/04/04/5-Alarming-Facts-About-America-s-13-Trillion-Student-Loan-Debt

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