Source: NBC News
The student debt crisis is not only “dragging down” students, but it’s also impacting the entire economy, according to a new analysis.
While previous generations have also had large amounts of debt to pay off, their debt has existed in the form of payments for mortgages and cars, but millennial and the younger generation are experiencing higher education debt as a result of higher education costs.
“It means millions of young Americans have less money to spend on the goods and services — and particularly on big-ticket items like homes and cars that are the backbone of the economy,” reports NBC.
The analysis on the NBC News/Wall Street Journal poll suggests that the younger generation may be feeling overwhelmed by the debt that is standing in the way of buying into the “American dream.”
Read Full Story: NBC News