Student Loan Grown 102% Since 2009
It’s been over a decade since the youth of America faced debt level this high. According to the New York Federal Reserve Consumer Credit Panel, the debt among the 19 to 29-year-old Americans surpassed $1 trillion by the end of 2018 which is the highest exposure since late 2007.
Adults of this age group exceeded the $1 trillion debt threshold in the last quarter. Student loans make up the majority of this 1,005,000,000,000 debt owed by this group. Student Loan is followed by mortgage debt where new mortgages among the young adults is a bit below the levels of the early 2000s. This suggests adults are waiting longer to buy homes and are opting to rent for a longer period…
“We’re seeing the beginning of a generational shift in trust from traditional stock exchanges to crypto exchanges.” The immutability of the blockchain is driving the millennials’ interest and “as more investors become educated on the benefits of blockchain we’ll continue to see this trend play out.”
Read the full article at https://bitcoinexchangeguide.com/millennials-burdened-with-1-trillion-in-debt-student-loan-contributing-to-limiting-the-pace-of-economic-growth/