Moneymoneyrcwrtneoconstrumprecession

Mon Feb 25, 2019, 02:44 PM

Millennials Are Facing $1 Trillion in Debt

•Student loans make up the majority of 19-29 years old debt
•Since 2009, mortgage debt up 3.2% while student loans up 102%

By Alexandre Tanzi
‎February‎ ‎25‎, ‎2019‎ ‎7‎:‎00‎ ‎AM‎ ‎EST

More than a decade has passed since young Americans faced debt levels this high.

Debt among 19 to 29-year-old Americans exceeded $1 trillion at the end of 2018, according to the New York Federal Reserve Consumer Credit Panel. That’s the highest debt exposure for the youngest adult group since late 2007.

Debt levels play a role in how young adults view their spending conditions, according to a University of Michigan survey Friday. Younger adults -- those under age 35 -- have reduced their spending compared with previous generations possibly because of weakened job prospects, delayed marriage and educational debt.

Policy makers have recognized that lower spending limits economic growth. As a result, a number of policies to boost younger adults spending such as forgiving student debt have entered the political arena, according to Richard Curtin, director of the University of Michigan consumer survey.

more...

https://www.bloomberg.com/news/articles/2019-02-25/millennials-face-1-trillion-debt-as-student-loans-pile-up?srnd=premium

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Reply Millennials Are Facing $1 Trillion in Debt (Original post)
RCW2014 Feb 25 OP
oflguy Feb 25 #1
BigKahunna2.0 Feb 25 #2

Response to RCW2014 (Original post)

Mon Feb 25, 2019, 03:00 PM

1. "forgiving student debt"

So who should pay off their loans?

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Response to RCW2014 (Original post)

Mon Feb 25, 2019, 10:36 PM

2. So they took out the student loans and they get the benefit of the education....

But now they don't want to pay their debts???

They need to act like adults and take responsibility for the choices they have made...


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