2014 college graduates are ‘the most indebted class ever’

by Grace

The average Class of 2014 graduate with student-loan debt has to pay back some $33,000 … Even after adjusting for inflation that’s nearly double the amount borrowers had to pay back 20 years ago.

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… A little over 70% of this year’s bachelor’s degree recipients are leaving school with student loans, up from less than half of graduates in the Class of 1994.

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 … According to a new Pew Research report, a record 37% of young households had outstanding student loans in 2010, up from 22% in 2001 and 16% in 1989….

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Related:  ‘Growing student debt may be a reason for weak housing market’ (Cost of College)

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Phil Izzo, “Congratulations to Class of 2014, Most Indebted Ever”, Wall Street Journal,  May 16, 2014.

Richard Fry and Andrea Caumont, “5 key findings about student debt”, Pew Research Center, May 14, 2014.

Richard Fry, “Young Adults, Student Debt and Economic Well-Being”, Pew Research Center, May 14, 2014.

2 Comments to “2014 college graduates are ‘the most indebted class ever’”

  1. Debt per borrower is the wrong measure—debt per graduate would be a better one. By that measure the situation as gotten worse, as more people are borrowing as well as those who borrow borrowing more. It doesn’t help that so many people are urged not to save for college, but to spend all they earn.

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  2. Based on household student debt broken out by households with and without college degrees, student per graduate may be about twice that of student debt per non-graduate.

    http://www.pewsocialtrends.org/2014/05/14/section-1-student-debt-and-overall-economic-well-being/

    And so many people are urged to enroll in college even if they have to borrow.

    ‘Third of student loan borrowers never earned degree’

    https://costofcollege.wordpress.com/2013/07/03/quick-links-digital-dementia-college-debt-without-a-college-degree-college-graduation-rates-not-keeping-up/

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