The Millennial Debt Crisis

The Millennial Debt Crisis You May Not Have Heard Of

Editor: Vlad Rothstein | Tactical Investor

The Millennial Debt Crisis

The “student debt crisis” has become a common phrase used by many, so much so that celebrities have engaged in the conversation. Comedian Hasan Minhaj even included an episode on student loans in his Netflix series and recently testified at a congressional hearing on the subject. His interest in this issue—and that of other celebrities—shouldn’t be that surprising given his audience of Millennials, many with student debt.

Millennials came of age during a time of transition in both the economy and in the landscape of higher education. During their lifetimes, college costs have risen significantly, with the net price of tuition, fees, and room and board at a public, four-year college increasing 68% since the 1999-2000 academic year. The sheer amount borrowed annually for higher education has doubled since then too. Despite growing evidence that a college degree leads to higher incomes and career success, students’ perceptions of debt are deeply negative. In a recent poll, 57% of Millennials thought student debt was the largest source of consumer debt, even though student debt pales in comparison to mortgages. Forbes

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