Young Adult Economic Series, Part 3: Generation Debt

Young Adult Economic Series, Part 3: Generation Debt

November 27, 2006
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Debt has become a generation-defining characteristic for today's young adults. The problem often begins with student loan debt, which today affects both community college and university students. In addition, today's young adults are relying more on credit to cover basic living expenses, particularly during those first few years in the workplace. As starting salaries have failed to keep pace with rising student loan bills, housing costs or health care costs, for many young adults the credit line becomes a lifeline.