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Student Loans Once Again in the News

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Without healthy home equity, many parents are taking on loan debt for their children.

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It seems the plight of middle-aged Americans clinging to middle class status has deteriorated rapidly in just a few days; this Wall Street Journal story from Tuesday caught my eye, primarily as a result of the graphic below. It wasn't hard to predict this six or eight years ago: "Many parents-no longer able to tap home equity to pay for their children's education-are taking out new student loans to do so."



As noted in the graphic, this is from recently published Federal Reserve Data, however, the Consumer Financial Protection Bureau also weighed in on the nation's growing student loan debt this week (see this New York Times story and this CNN/Money report for details) and the news was no better there, making one wonder where this is all leading (probably not anywhere good). And, as if that all wasn't bad enough, Americans also seem to be raiding their 401(k)s at a brisk pace once again as detailed in this CNN/Money report.

(See also: The Rising Credit Risks in US Student Loans and More Than Academics: Are Graduates Getting Value for Their Money?)

Twitter: @timiacono
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