Features

Debtors' prison

Education | The most rapidly growing class of debt in America belongs to the country’s newest wage earners and its youngest taxpayers

Issue: "Going it alone," Nov. 2, 2013

Student loan debt now outstrips car loan debt and even outstanding U.S. credit card spending. Worse, as college tuition and the cost of borrowing to pay for it have skyrocketed, income levels and employment opportunities have flatlined. It’s perhaps then no surprise that nearly 40 percent of federal student loans are in default—as it becomes a longer and steeper climb for most college graduates to pay off bigger and bigger student loans.

graph4.jpg

graph2.jpg

We see you’ve been enjoying the content on our exclusive member website. Ready to get unlimited access to all of WORLD’s member content?
Get your risk-free, 30-Day FREE Trial Membership right now.
(Don’t worry. It only takes a sec—and you don’t have to give us payment information right now.)

Get your risk-free, 30-Day FREE Trial Membership right now.

graph3.jpg

graph1.jpg

Sources: National Center for Education Statistics; Federal Reserve Bank of New York; United States Census Bureau; National Student Loan Data System; Consumer Financial Protection Bureau

Comments

You must be a WORLD member to post comments.

    Keep Reading

    Advertisement