It will come as no surprise that a lot of people are burdened by education-related debt. What may be surprising is how few of those people even know the terms of that debt.
This is one of the findings of a survey released today by the National Financial Capability Study (NFCS). The study, which I co-authored, found that nearly half (45%) of those aged 18 to 34 owes on at least one loan (for themselves or family members) and more than a quarter of Americans aged 35 to 54 have student loans.
Indeed, the number of student loan borrowers has almost doubled in the past 10 years, from 23 million to the current 43 million borrowers, according to the Federal Reserve Bank of New York. And the amount of total student-loan debt has soared, shooting from $240 billion at the start of 2003 to more than $1.3 trillion today.
Read the Full Article at blogs.wsj.com >>>>
ATTENTION READERS
We See The World From All Sides and Want YOU To Be Fully InformedIn fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.
About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
