What worries me and others when thinking outside of the box is about student debt. From 2008 to 2010, economic downturn in United States eliminated almost 8.8 million jobs. Let’s take a look at the most shocking chart of the year tweeted by Tracy Alloway, US Financial Correspondent at Financial Times.
Reaching across generations and redefining the way millions lived!
The Federal Reserve Bank of New York reported in it’s latest Quarterly Report on “Household Debt and Credit”, a great deal of boost in student debt loads now at $956 billion, up $42 billion from last quarter. $23 billion is new debt while the remaining $19 billion is attributed to previously defaulted student loans.
The cost of a college degree has skyrocketed. Although the benefits of a higher education are unequivocal, the weight of student debt will hold back the economy over the long haul.
David Wilson writes at student loans surpassed credit cards last quarter. The New York-based economist cited a Rutgers University study, done in May, that showed 40 percent of college graduates from 2006 through 2011 postponed a major purchase because of their debt burdens.
But if you still planning to graduate, Have a look at our guide to The Top Colleges in United States of America – Best US College Ranking 2013 and CEOWORLD Magazine Graduate Business School Rankings for Executives and Entrepreneurs.
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