November 22, 2016

Student loan debt exceeds total credit card debt for first time

Economy in Crisis = For the first time in history, student loan debt now exceeds the total national credit card debt: college borrowers owe $1.1 trillion dollars. Should it be much of a surprise then that one in every five young adults between the ages of 18 to 34 are in poverty? In fact, only 65 percent of young adults are actually employed. What about the other 35 percent?

Degrees are expensive and unfortunately do not guarantee employment. The underemployment rate for 2013 college graduates was a whopping 18.3 percent. Wells Fargo released a study which revealed that 31 percent of millennials regret going through and paying for college instead of getting a job and obtaining job experience. However, with a tight job market where few jobs are available, that isn’t the best option either.

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