This week’s email brings a reminder from Maggie Thompson at the organization Higher Ed Not Debt about an issue that remains under the radar for much of the population:
“This week we hit a milestone—but it’s not a good one. It’s been two years since the amount of student debt held in this country hit $1 trillion dollars. Americans hold more student debt than credit card debt and auto loans combined.” — Maggie Thompson
Everyone knows about credit card debt and mortgage issues, but the significance of student debt is still emerging. Higher education student debt should be at the top of the list of issues addressed by Democratic candidates in this year’s elections. Recent graduates (and also students who studied for several years but didn’t graduate) are well aware of the problem, and they could use some help.
The burden of student debt might not be so bad, if more and better jobs were available for young adults. But the fact is, graduates face a stagnant job market and declining wages. How do you pay off student debt and start a family on Walmart wages?
Higher Ed Not Debt is organizing events across the country to put the spotlight on student debt. For more information see the Higher Ed Not Debt website.
— John Hayden