Boston Public Library
Kirstein Business Library

Second Floor, McKim Building, Central Library, 617-859-2142

Economic Impact of Student Debt

by Betsey Lippmeier

loansThe Consumer Financial Protection Bureau has just released a report highlighting the ways that student debt affects the broader economy.

For example, student debt may reduce home ownership by limiting the borrower’s ability to qualify for a mortgage or  save for a down payment. Outstanding student loans can limit a graduate’s ability to save enough capital to start a small business or access small business loans.Student loan payments can divert cash from retirement savings.

According to the Project on Student Debt “Two-thirds of college seniors who graduated in 2011 had student loan debt, with an average of $26,600 per borrower. Meanwhile, unemployment for young college graduates remained high at 8.8 percent in 2011.”

For information on managing student debt the Boston Public Library has:

breakthebank

Don’t Break the Bank

A Student’s Guide to Managing Money

(Paperback – 2012)

 

cliffnotes

CliffsNotes Graduation Debt

How to Manage Student Loans and Live your Life
Gobel, Reyna

(e-book – 2010)

American Student Assistance has a College Planning Center at the Boston Public Library.

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