Knowledge Tree
student loan debt
Also known as: student debt
Facts (10)
Sources
Taxes, Government Transfers and Wealth Inequality milkenreview.org Jan 21, 2019 3 facts
measurementThe United States government has accumulated $1.4 trillion in student debt among young adults without a corresponding increase in their earning power.
measurementYoung adults in the United States hold $1.4 trillion in student debt without a corresponding increase in earning power.
claimThe United States government has scheduled a reduction in funding for children, has accumulated $1.4 trillion in student debt for young adults without increasing their earning power, and has provided limited support to improve worker productivity.
Financial Literacy: The Guide to Managing Your Money - Annuity.org annuity.org 3 facts
claimCommon mistakes regarding student loan debt include borrowing more than necessary and failing to understand repayment options.
claimCommon financial mistakes that financial literacy can help guard against include problems with credit card debt, student loan debt, and predatory lending.
procedureTo avoid student loan debt issues, students should apply for financial aid, grants, and scholarships; consider federal, state, or nonprofit loans over private loans; borrow only what is needed; pay interest while still in school; and refinance loans if interest rates decrease.
Student Debt and The Spirit of Indenture - Dissent Magazine dissentmagazine.org 1 fact
claimCollege student-loan debt has revived the spirit of indenture for a sizable proportion of contemporary Americans.
How Government Tax And Transfer Policy Promotes Wealth Inequality taxpolicycenter.org Feb 5, 2019 1 fact
claimThe United States government has reduced support for higher education, which has contributed to $1.4 trillion in student debt held by young adults without a corresponding increase in their earning power.
The Role of Taxation in Family Inequality: Possibilities for Reform ncfr.org Dec 20, 2024 1 fact
referenceAddo, Houle, and Simon (2016) examined the intersection of parental wealth, race, and student loan debt, published in Race and Social Problems.
Foundations in Personal Finance: High School Curriculum - Ramsey ramseysolutions.com 1 fact
referenceThe 'Foundations in Personal Finance: High School Curriculum' by Ramsey Solutions includes a chapter on college planning that advises students on how to pay for college with cash to avoid student loan debt.