It's not so depressing if you think of it as 200,000 fewer purchases from The Dollar Tree over the course of forever. Currently, the average student debt balance for a household headed by two college graduates is $53,000, and according to a new study by research organization Demos, those households could end up $208,000 poorer over the course of a lifetime than a household with zero student debt.
In the run-up to the 2012 presidential election, reports of harassment and intimidation at the polls were so rampant in North Carolina that the state's top election official was obliged to send a memo to his employees reminding them that they could call police if necessary.
Demos has released a new report that highlights the broader impact of student debt. Comparing a household with student loans against one without, the report reveals that student debt permanently impedes upward mobility for millions of Americans struggling to repay their loans.
It's still a given that a college education means bigger paychecks over a person's lifetime. But as people take on ever greater amounts of student debt to fund school, the wealth they accumulate over their lifetimes is drastically less than people who didn't have to borrow.
A student who takes out $53,000 in debt, the average amount for those attending a four-year public university, will experience a a lifetime loss of wealth totaling $208,000, according to a new report from the think tank Demos. It dives into the long-term costs of rising student debt and finds that for those who carry the $1 trillion in total student debt, their lifetime wealth loss will equal $4 trillion.
Following last week’s report showing that Ohio students who graduate with student loans hold an average debt of nearly $30,000, U.S. Sen. Sherrod Brown (D-OH) will outline a plan that would help Americans saddled with costly, private student loans refinance to more affordable options. During a news conference call today, Brown discussed how his bill would help individuals reduce their student loan debt by refinancing at no cost to taxpayers.
The next big campaign finance case to go before the Supreme Court began in February 2012 in the grand ballroom at the Marriott Wardman Park hotel during the "Ronald Reagan Banquet" at the Conservative Political Action Conference.
Fast food workers in Detroit and Flint, Mich. participated in the week of rolling fast food strikeson Wednesday, the third straight day of labor activism in what now appears to be the largest industrial action in the industry’s history.
The next big campaign finance case to go before the Supreme Court began in February 2012 in the grand ballroom at the Marriott Wardman Park hotel during the "Ronald Reagan Banquet" at the Conservative Political Action Conference.
On July 24, President Obama delivered a speech in Galesburg, IL, to lay out his vision for an economy that works for everyone and what he hopes to do to get us there. During his speech, he acknowledged that gridlock in Washington will likely prevent Congress from providing sensible solutions, but he said, “Whatever executive authority I have to help the middle class, I’ll use it." I hope the President keeps his word because he has the power to lift two million working Americans out of poverty. He just has to choose to use it. I work at the Smithsonian Museum of American History.
After the D.C. Council approved a bill that requires large retailers to pay their workers a "living wage" of $12.50 -- and Walmart retreated from the capital in protest -- we thought it'd be worth considering what that requirement could do for the economy.
Picking a new chairman of the Federal Reserve may be the most important nomination a president can make. The next Fed chair will play an instrumental role in determining the future trajectory of America’s straggling recovery, and determining how financial regulation gets implemented.
(NEW YORK, NY) – In the wake of the recent passage of disastrous legislation that would repeal North Carolina’s successful Same Day Registration policy and implement barriers to voting, Demos President Miles Rapoport issued the following statement:
I am of course glad to see President Obama focus the country on what he correctly identifies as the most pressing national problem, the crushing of the middle class. The solution he laid out in his address at Knox College, a middle-out economics which sees the middle class as the engine of the economy, is both good economics and a powerful political message. It is what progressives and Democrats need to keep emphasizing over and over again, both rhetorically and in their legislative agendas.
I am of course glad to see President Obama focus the country on what he correctly identifies as the most pressing national problem, the crushing of the middle class. The solution he laid out in his address at Knox College, a middle-out economics which sees the middle class as the engine of the economy, is both good economics and a powerful political message. It is what progressives and Democrats need to keep emphasizing over and over again, both rhetorically and in their legislative agendas.
“Job security, with good wages and durable industries. A good education. A home to call your own. Affordable health care when you get sick. A secure retirement even if you’re not rich.”
Today President Obama will give a major economic address in Illinois, the first in a series of speeches designed to refocus the national conversation on job creation and the struggling economy.
Whatever growth in GDP or reductions in unemployment, most Americans think the economy stinks. According to a new CBS poll, more than 60 percent of people polled rate the economy as "bad." And well they should: For the vast majority of Americans, economic gains during the recovery have almost entirely gone to the people at the very top.