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> "Most well-educated Americans"?? What, did you read that "somewhere on the Web"? Stick to what you know. Well, what do you know? You're not giving any argume

by brnt 4y ago

> "Most well-educated Americans"?? What, did you read that "somewhere on the Web"? Stick to what you know. Well, what do you know? You're not giving any arguments or data. What I know is that there's about 45M Americans who're out a cool 1.7T USD, and that both POTUS and Congress passed a bill called the "American Rescue Plan" to adress this situation. Yeah, it seems to affect most well-educated US adults. Stick to what you know.

AlbertCory 4y ago
Let's look at the data: according to [1], 27.5z of Americans 25 or older have a bachelor's degree. The population, according to Google, is 329.5 million. That gives us 90.6 million with a bachelors. According to [2], we get 38.1 million older than 25 who have some student debt. That works out to 38.1 million, giving us 42%. (I excluded the 24 or younger cohort, only because the Census Bureau did as well). Calculations are shown below. So the statement "Most well-educated Americans" is factually wrong. Isn't it? Whatever you think "most" means, it has to mean "greater than half." [1] https://www.census.gov/newsroom/press-releases/2021/bachelors-degree-attainment.html https://www.census.gov/newsroom/press-releases/2021/bachelor... [2] https://www.forbes.com/advisor/student-loans/average-student-loan-statistics/ https://www.forbes.com/advisor/student-loans/average-student... The math: US population 329500000 Percent with bachelor's 0.275 Population with bachelor's 90612500 Age group In millions total 25 to 34 14.9 14900000 35 to 49 14.4 14400000 50 to 61 6.4 6400000 62 and older 2.4 2400000 Total 38100000 Percent with debt 0.420471789
- twelve40 4y ago
  I agree that "most ... with crushing" is a poorly worded hyperbole. It does seem to be about a half, however. "Among the class of 2020, 55% of bachelor’s degree recipients took out student loans, graduating with an average of $28,400 in federal and private debt."
  - AlbertCory 4y ago
    "poorly worded" is one way of putting it. Throw out a ridiculous figure to get attention, and then back off when it's challenged and say "well, it's still a problem!" is a shady tactic. "of recent college grads, 55%" would be more accurate, I guess. Lastly, mean vs. median is a worthwhile topic. The mean debt can be inflated by a cohort of highly-indebted people. The median debt would be more interesting.

by brnt 4y ago

AlbertCory 4y ago

Let's look at the data: according to [1], 27.5z of Americans 25 or older have a bachelor's degree. The population, according to Google, is 329.5 million. That gives us 90.6 million with a bachelors. According to [2], we get 38.1 million older than 25 who have some student debt. That works out to 38.1 million, giving us 42%. (I excluded the 24 or younger cohort, only because the Census Bureau did as well). Calculations are shown below. So the statement "Most well-educated Americans" is factually wrong. Isn't it? Whatever you think "most" means, it has to mean "greater than half." [1] https://www.census.gov/newsroom/press-releases/2021/bachelors-degree-attainment.html https://www.census.gov/newsroom/press-releases/2021/bachelor... [2] https://www.forbes.com/advisor/student-loans/average-student-loan-statistics/ https://www.forbes.com/advisor/student-loans/average-student... The math: US population 329500000 Percent with bachelor's 0.275 Population with bachelor's 90612500 Age group In millions total 25 to 34 14.9 14900000 35 to 49 14.4 14400000 50 to 61 6.4 6400000 62 and older 2.4 2400000 Total 38100000 Percent with debt 0.420471789

twelve40 4y ago
I agree that "most ... with crushing" is a poorly worded hyperbole. It does seem to be about a half, however. "Among the class of 2020, 55% of bachelor’s degree recipients took out student loans, graduating with an average of $28,400 in federal and private debt."
- AlbertCory 4y ago
  "poorly worded" is one way of putting it. Throw out a ridiculous figure to get attention, and then back off when it's challenged and say "well, it's still a problem!" is a shady tactic. "of recent college grads, 55%" would be more accurate, I guess. Lastly, mean vs. median is a worthwhile topic. The mean debt can be inflated by a cohort of highly-indebted people. The median debt would be more interesting.