College Debt

My email from “Too Much” offered these statistics:

“Thirty years ago, notes analyst Bryce Covert, two-thirds of college student aid came from government grants. Two-thirds currently come from loans, and that means ever greater debt burdens.

This spring’s graduating seniors will march off into the world with $22,900 in average debt. Total student debt hit $530 billion this past December, one reason, Bryce Covert adds, why one-third of all adults under age 33 have no savings.

A half century ago, the United States literally “invented” higher education as a mass phenomenon. For years, the United States sported more college grads than any other nation. The United States, on college grads, now ranks ninth.”

From “Too Much”

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