3 ms·

I don’t think six figure debt is normal. It also depends on where the debt is from. Is it something they had to do (borrow money for food and rent) or elected t

I don’t think six figure debt is normal. It also depends on where the debt is from. Is it something they had to do (borrow money for food and rent) or elected to do (borrow money for low income degree)?

not2b 5y ago
In the US, for the young, it may mean that you went to college. You have the equivalent of a mortgage with no house. And this is new: in many cases someone from their parents' generation who got the same degree and the same job would be debt free, because college used to be much, much less expensive (even after accounting for inflation) than it is now. Example: University of California (Berkeley or UCLA, etc). Currently about $12k a year tuition. 35-40 years ago is was zero, with a couple of hundred dollars in fees.