How debt loads are changing for young and old consumers, By Jonnelle Marte, October 8, 2014, Washington Post: “The kind of debt consumers take on is changing. And the changes look very different by age, according to a TransUnion report released Wednesday that looks at the shifting make up of consumer debt loads over time. Not surprisingly, younger consumers are seeing student loans crowd out most other types of loans, says Charlie Wise, vice president in TransUnion’s Innovative Solutions Group. For instance, student loans accounted for 36.8 percent of the total debt load for consumers ages 20 to 29 in 2014, up from the 12.9 percent reported in 2005…”
Tag: Student loans
Student Loan Debt Relief
Student loan relief: Obama’s order caps payments at 10% of income, By Christi Parsons, June 9, 2014, Los Angeles Times: “President Obama on Monday signed an executive order that lets millions of college graduates cap their student loan payments at 10% of their income, a move he says will help ‘open the doors of opportunity for all.’ By amending student loan regulations to put the cap in place, Obama is making use of his executive powers to help alleviate the burden for young Americans increasingly saddled with student loans . . .”