Sentences with phrase «young household owing»
Section 2 turns to demographics and highlights the greater education and occupational prestige of young households owing student debt.
http://www.pewsocialtrends.org/
About half of young households owing student debt are headed by a college graduate, while only 35 % of young households overall are college educated.
Not exact matches
BMO says 84.4 per cent of households headed by young people owe some form of debt, compared with 82 per cent of the same households in 1984.
The Pew Research analysis also finds that a record 40 % of all households headed by someone younger than age 35 owe such debt, by far the highest share among any age group.
Among the college educated, the mean age of the student debtors is about a year younger than households not owing student debt (30.8 vs. 31.9).
But young student debtor households have much less wealth than their peers not owing such debt.
Younger households tend to be more highly leveraged than older households, and student debtor households tend to be more leveraged than households that do not owe student debt.5 Among the young and college - educated, student debtor households are nearly twice as leveraged as their counterparts lacking student debt — 67 % vs. 34 %.
Among young households whose heads lack at least a bachelor's degree, student debtors are more likely than those without student debt to owe on vehicle loans, credit card debt and other types of debt and are just as likely to have a mortgage and other installment debt.
Student debt burdens are weighing on the economic fortunes of younger Americans, as households headed by young adults owing student debt lag far behind their peers in terms of wealth accumulation, according to a new Pew Research Center analysis of government data.
«A Record One - in - Five Households Now Owe Student Loan Debt: Burden Greatest on Young, Poor.»
The typical or median amount owed on all outstanding student loan balances is about $ 13,000 among young households with such debt.3 This comports closely with other recent student debt figures.