A Generation Weighed Down By Debt

November 24, 2004 | | Christian Science Monitor |
"These young adults are doing everything society tells them to do," says Tamara Draut, coauthor of a new study, "Generation Broke: The Growth of Debt Among Young Americans," published by Demos, a public-policy group in New York. "They're going to college, taking on tremendous student-loan debt, and working longer hours than ever before while in college. When they get in the real world, they can't get ahead because of the debt they went into to get the degree to get the good job."
 
"This is the first generation to shoulder the costs of college primarily through interest-bearing loans rather than federal grants that don't have to be repaid," Ms. Draut says.