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posted by cmn32480 on Wednesday April 05 2017, @05:22AM   Printer-friendly
from the cha-ching dept.

Recent college graduates who borrow are leaving school with an average of $34,000 in student loans. That's up from $20,000 just 10 years ago, according to a new analysis from the Federal Reserve Bank of New York.

In that report, out this week, the New York Fed took a careful look at the relationship between debt and homeownership. For people aged 30 to 36, the analysis shows having any student debt significantly hurts your chances of buying a home, compared to college graduates with no debt. The cliche of "good debt" notwithstanding, the consequences of borrowing are real, and they are lasting.

The report paints a mixed picture of how student borrowing has evolved over the last decade, since the financial crisis. There are some bright spots: For example, student loan defaults peaked five years ago and have declined ever since.

And repayment seems to have slowed down among high-balance borrowers —those who owe $75,000 or more. Meaning, after 10 years, they have paid down only one-quarter to one-third of what they owe.

On the face, this isn't necessarily good. But taken alongside the decline in defaults, Fed president William Dudley said in a press briefing Monday, it reflects something good. That is, graduate students, in particular, are signing up for government programs intended to help make payments more affordable.

Source: NPR


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  • (Score: 2) by wisnoskij on Wednesday April 05 2017, @10:17PM (1 child)

    by wisnoskij (5149) <reversethis-{moc ... ksonsiwnohtanoj}> on Wednesday April 05 2017, @10:17PM (#489373)

    OK, well I am not going to go reading old article's AC comments looking for this guy. If you have someone you want me to meet, link to some of the comments.

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  • (Score: 2) by Azuma Hazuki on Wednesday April 05 2017, @10:26PM

    by Azuma Hazuki (5086) on Wednesday April 05 2017, @10:26PM (#489382) Journal

    Oh he's all over the place. Can't mistake him. Just look for any comment referencing a certain book of Old Testament law, referring to Jesus as "the Adversary," and deliberately misspelling "country." You both seem to want to stick it in underage girls, so I figure you'd have a lot to talk about.

    --
    I am "that girl" your mother warned you about...