A disturbing new phenomenon in the US is growing regarding the country's crushing surge of student debt, now at $ 1.2tn , with school loans now spanning multiple generations of families. Weighed down by their own loans, many parents are now lacking the means to fund their children's education, without sinking into further debt. Latest figures from the New York Federal Reserve show: And adults from 35 to 50 years old owe about as much as people fresh out of college do — an average of $20,000. school loans increasingly belong to Americans over 40; adults 35 to 50 years old ﻿35 to over 40 owe as much as people fresh out of college; and student debt is surpassing groceries as a primary expense for most borrowers, with the gap widening for younger families. Additionally, further data shows that the fear of paying back student loans is reducing the numbers now applying to college in the WASHINGTON . ﻿
A disturbing new phenomenon in the US is growing regarding the country's crushing surge of student debt, now at $ 1.2tn , with school loans now spanning multiple generations of families. Weighed down by their own loans, many parents are now lacking the means to fund their children's education, without sinking into further debt. Latest figures from the New York Federal Reserve show: school loans increasingly belong to Americans over 40; adults 35 to 50 years old ﻿35 to over 40 owe as much as people fresh out of college; and student debt is surpassing groceries as a primary expense for most borrowers, with the gap widening for younger families. Additionally, further data shows that the fear of paying back student loans is reducing the numbers now applying to college in the WASHINGTON . ﻿