stfuconservatives: pantslessprogressive: U.S. student loan debt has increased by 25% since 2008, according to the Federal Reserve Bank of New York. From Justin Lahart: Mortgage debt, home equity loans, credit card debt and auto loans are all down sharply — partly because people are being more careful, but also because many have defaulted. But student loans are up sharply. There was $550 billion in student debt outstanding in the second quarter, up 25% from $440 billion in the third quarter of 2008. And yet we have the worst job market for graduating college seniors since The Great Depression. I can’t help but feel that this is where the economic collapse of America is going to come from, not from medicare or medicaid maybe not even from the Bush Tax cuts. This system of student debt is unsustainable and has basically removed an entire generation from the American Dream. -Joe I just started paying back my student loans and I must say I am very fortunate to have a salary that allows me to pay the minimum, and still have enough to live on. And I don’t even have my fucking degree. How I wish I were born earlier than I was.
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stfuconservatives:

pantslessprogressive:

U.S. student loan debt has increased by 25% since 2008, according to the Federal Reserve Bank of New York.

From Justin Lahart:

Mortgage debt, home equity loans, credit card debt and auto loans are all down sharply — partly because people are being more careful, but also because many have defaulted.

But student loans are up sharply. There was $550 billion in student debt outstanding in the second quarter, up 25% from $440 billion in the third quarter of 2008.

And yet we have the worst job market for graduating college seniors since The Great Depression. I can’t help but feel that this is where the economic collapse of America is going to come from, not from medicare or medicaid maybe not even from the Bush Tax cuts. This system of student debt is unsustainable and has basically removed an entire generation from the American Dream.

-Joe

I just started paying back my student loans and I must say I am very fortunate to have a salary that allows me to pay the minimum, and still have enough to live on. And I don’t even have my fucking degree. How I wish I were born earlier than I was.

(via stfuconservatives)

Source: The Wall Street Journal

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  3. eunoshin reblogged this from genericgirlname and added:
    Well this is a disheartening thing to run into.
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    Holy balls. No doubt. I love HATE looking at the situation at hand and completely reconsidering whether it’s even worth...
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  24. lefthanded reblogged this from pantslessprogressive and added:
    Yikes. But doesn’t surprise me at all.
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  26. ixu reblogged this from doyoulikewaffles and added:
    Quite disgusting if you ask me.
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  34. mycat-tibby reblogged this from stfuconservatives and added:
    ^ What Joe said.
  35. blairkl reblogged this from michelle-my-belle and added:
    Student Loans are scary and have become an necessary evil with the increasing cost of higher education. And with the...