8 years, 5 months ago

WHY IT MATTERS: Student Debt

WASHINGTON — THE ISSUE: More Americans are getting buried by student debt — causing delays in home ownership, limiting how much people can save and leaving taxpayers at risk as many loans go unpaid. Out of the 43 million Americans with student debt, roughly 16 percent are in long-term default —a potential hit in excess of $100 billion that taxpayers would absorb. Studies have shown that student debt payments have led to a delay in home ownership, as well as a decline in college savings for the borrowers’ children — creating a multigenerational debt cycle. The average college-educated head of household under 40 owes $404 a month in student debt payments, according to an AP analysis of Federal Reserve data.

Associated Press
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