12:45 pm, June 10th | by Colleen Oakley, LearnVest
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid — it’s rare. In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%. It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
1:30 pm, December 21st | by Colleen Oakley, LearnVest
Six years ago, Carrie Rocha and her husband Marco were $60,000 in debt–and steadily accumulating more. But a vacation to Brazil stopped them in their tracks. “We were reminded that we really want to move there at some point,” says Rocha. “The only problem? Brazil is a cash-based society where people pay in cash for big stuff, like cars and houses. We couldn’t even get to the end of the month without overdrawing.”