In 2012, a record 69% of the nation’s new college graduates had taken out student loans. Graduates from more affluent families are much more likely to borrow today than they were 20 years ago.
College graduates report about the same amount of personal satisfaction and economic well-being later in life whether they attended a private or public college.
More people are having trouble keeping up with their student-loan payments than in years past, several studies show.
Households headed by young adults owing student debt lag far behind their peers in terms of wealth accumulation and tend to carry larger amounts of other kinds of debt.
A record 37% of young households had outstanding student loans in 2010 and a median student debt of $13,000.
Outstanding household debt increased $241 billion during last October-December, the biggest quarterly jump since 2007.