Debt and Young Americans
This article, "Why young Americans are drowning in debt," was very insightful. It discussed three major factors that are contributing to the enormous debt that young americans are being faced currently with. The number one listed was the amount owed, on average, in college loans. They have reached record heights recently and look to continue to soar. One of the other major factors is credit card debts. The last major factor is how tight the job market is at this time. With all of these factors going on that are real-to-life for most young adults in the U.S., many think that they (we) may be the most indebted generation of young americans ever. Perhaps there should be a class or two required in high school that would help rising college students and even those who don't plan on attending school to see this reality before being hit by the train. If it is really this big of an issue, why don't we do something about it? If not, this trend will just continue to grow.
Posted by Fred at 3/30/2005 09:43:00 PM