Student Debt Stretches to Record 1 in 5 Households

By: Associated Press
By: Associated Press

WASHINGTON (AP) -- New research finds that college loan debt has stretched to a record number of U.S. households -- nearly 1 in 5 -- with the biggest burdens falling on the young and poor.

Analysis by the Pew Research Center found that 22.4 million households, or 19 percent, had college debt in 2010. That is double the share in 1989, and up from 15 percent in 2007, just prior to the recession. It's the biggest three-year increase in student debt in more than two decades.

The increase was driven by higher tuition costs as well as rising college enrollment during the economic downturn.

Because of the sluggish economy, fewer college students than before are able to settle into full-time careers immediately upon graduation, contributing to a jump in debt among lower-income households. Pew says many of the young adults take on part-time jobs or attend graduate school.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@wsaw.com.
Please provide detailed information.
All comments must adhere to the WSAW.com discussion rules.

powered by Disqus
WSAW-TV 1114 Grand Ave. Wausau, WI 54403
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 171527761 - wsaw.com/a?a=171527761
Gray Television, Inc.