An Interest In:
Web News this Week
- March 26, 2024
- March 25, 2024
- March 24, 2024
- March 23, 2024
- March 22, 2024
- March 21, 2024
- March 20, 2024
April 4, 2017 06:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/RS85oKaochI/student-loan-debt-has-nearly-tripled
Student Loan Debt Has Nearly Tripled
An anonymous reader shares a report: Recent college graduates who borrow are leaving school with an average of $34,000 in student loans. That's up from $20,000 just 10 years ago, according to a new analysis from the Federal Reserve Bank of New York. In that report, out this week, the New York Fed took a careful look at the relationship between debt and homeownership. For people aged 30 to 36, the analysis shows having any student debt significantly hurts your chances of buying a home, compared to college graduates with no debt. The cliche of "good debt" notwithstanding, the consequences of borrowing are real, and they are lasting. The report paints a mixed picture of how student borrowing has evolved over the last decade, since the financial crisis. There are some bright spots: For example, student loan defaults peaked five years ago and have declined ever since. And repayment seems to have slowed down among high-balance borrowers -- those who owe $75,000 or more. Meaning, after 10 years, they have paid down only one-quarter to one-third of what they owe.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/RS85oKaochI/student-loan-debt-has-nearly-tripled
Share this article:
Tweet
View Full Article
Slashdot
Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..More About this Source Visit Slashdot