Youth Debt Down From 2007 High

For the next few days, I am working on a project to map the state of overall youth indebtedness using the Survey of Consumer Finances. I've done quite a bit already (see spreadsheet here for what I have, if interested). I will write it all up later when I have more time. For now, here are the two headline figures.

The median net worth of famlies whose head of household is below the age of 35 has tracked up and down over the period, starting at $14.7k and standing at present at $10.4k.

The median debt of the youth ran up pretty solidly until 2007 and then fell down sharply in 2010 and continued falling slightly through 2013. In 1989, median youth debt was at $11k. By 2007, it has climbed to $22.7k. Presently, it is at $15.5k, which is 32% lower than the 2007 peak.

Comments