Student debt rises as students invest in their own education
On Yahoo! news (via Press release) of student loans and student debt:
Eight in 10 U.S. adults with student loans (81 percent) say they made financial or personal sacrifices because of the amount of their loans. Half (50 percent) say they delayed contributions to retirement accounts, a 22 percent jump from 2013, when 41 percent delayed saving for retirement. An increasing number of Americans are working a second job as a result of their monthly loan payments, with 46 percent in the current survey saying they’re moonlighting, a 48 percent increase from the 31 percent who did so in 2013. These are among the latest findings of a new telephone survey of 1,005 U.S. adults conducted in March by Harris Poll on behalf of the American Institute of CPAs.
As Tim Worstall, often of this site, puts it: “Presumably it would be better if everyone had to struggle with their tax bills to pay for the university educations of other people?”