Equity Matters
Education usually helps with making money in the long run, but it also has some challenges. One big challenge is student debt.[] College costs have gone up a lot in the United States, making it too expensive for many students who want to go to college. Because college is costly, many students have to borrow a lot of money to pay for it. Paying back these loans can make it hard to have financial security and delay buying a house, getting a car, or getting married. These are important parts of life that help people build wealth and have a steady income.[,]
[ED119] The pernicious effects of growing student debt on the economic security of young workers. (2020). Equitable Growth. https://equitablegrowth.org/pernicious-effects-growing-student-debt-economic-security-young-workers/
[ED120] Cooper, D.C. and Wang, J.C. (2014). Student Loan Debt and Economic Outcomes. Federal Reserve Bank of Boston. https://eric.ed.gov/?id=ED558180
[ED121] Young Student Loan Borrowers Retreat from Housing and Auto Markets. Liberty Street Economics. https://libertystreeteconomics.newyorkfed.org/