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Gen Y here. I think they answered their question halfway through. Total student debt in the US is currently about $1,134,752,535,374.00 and increasing at a rat
by fintler 13y ago
Gen Y here.
I think they answered their question halfway through.
Total student debt in the US is currently about $1,134,752,535,374.00 and increasing at a rate of about $2,853.88 per second.
The article title is linkbait -- any generation that spends that amount of money isn't "cheap" (I think the word "exploited" is probably more appropriate).
- cgore 13y agoI make a lot more than a lot of GenY, and have less student loan debt, and it is a MAJOR part of my budget. I don't see how someone with an average salary and average student loan debt could get a loan for a car or for a house.
- mjn 13y agoThis is one thing I think a lot of young people here (Denmark) don't really realize about their advantages. Yeah, the taxes are higher, but they have no student loans to pay off. (Not to mention: they can start a business without worrying about healthcare premiums.)
- anonymoushn 13y agoHow long will it be a major part of your budget? Someone with a typical state university student debt load making a typical SV software engineer salary can be out of debt in 5 years without much discomfort.
- cgore 13y agoProbably around that long. Perhaps less if things go well.