Record Levels of Student Loan Debt Hit Younger Households Hard
A record 40% of all households headed by someone younger than age 35 owe money on their student loans, by far the highest share among any age group
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A record 40% of all households headed by someone younger than age 35 owe money on their student loans, by far the highest share among any age group
About one out of five (19%) of the nation’s households owed student debt in 2010, more than double the share two decades earlier and a significant rise from the 15% that owed such debt in 2007. A record 40% of all households headed by someone younger than age 35 owed student debt in 2010.
The Great Recession seems to have accelerated the tendency of today’s young adults – sometimes labeled the “boomerang generation” – to move out of the family house for a time and then boomerang back.
If asked to choose between a job with higher pay and one with more security, 56% of employed young adults would pick the position with more job security.
Young adults hit hard by the recession. A plurality of the public believes young adults, rather than middle-aged or older adults, are having the toughest time in today’s economy.
Cohabitation is an increasingly prevalent lifestyle in the United States. The share of 30- to 44-year-olds living as unmarried couples has more than doubled since the mid-1990s. Adults with lower levels of education—without college degrees—are twice as likely to cohabit as those with college degrees.
Instead of traveling across country or across town for Thanksgiving this year, many grown sons and daughters will be coming to dinner from their old bedroom down the hall, which now doubles as their recession-era refuge.
Four-in-ten young adults say they have cut back spending on alcohol or cigarettes as a result of the recession.
On a 12-question news quiz, young adults answered fewer than half correctly on average.
A 19-point gap now separates Democratic and Republican identification among young voters.
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