Student loans have seen almost 157 percent in cumulative growth over the last 11 years. By comparison, auto loan debt has grown 52 percent while mortgage and credit-card debt actually fell by about 1 percent, according to a Bloomberg Global Data analysis of federal and private loans. All told, there’s a whopping $1.5 trillion in student loans out there (through the second quarter of 2018), marking the second-largest consumer debt segment in the country after mortgages, according to the Federal Reserve. And the number keeps growing.
A typical millennial living in the city carries a significant debt burden: about $23,064, according to LendingTree’s latest study. For those looking for love, that kind of financial strain does not bode well https://www.cnbc.com/2018/09/14/for-young-couples-money-woes-take-a-toll.html
Data from the Federal Reserve Bank of New York show that 7 million Americans were at least three months behind on their car payments at the end of 2018, which is 1 million more than […]
Even without the debt-binging frenzy of last year, we were in trouble. Deficits were on an upward trajectory. Social Security is no longer running cash-flow surpluses and will require $1.6 trillion be repaid from the […]