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October 2016 Archives

Do young people have more debt now?

Ask many young people, and they'll tell you a familiar story: Millennials are being crushed by debt. The focus, typically, is on student loan debt. The narrative this creates is that young people these days don't have nearly the opportunities and options that people did a generation ago because this debt is crippling.

Both good and bad debt have an emotional impact

Whether you consider your debt good or bad, researchers have found that it has an emotional impact on you over time. It can also cause psychological issues. This is significant when the average person in the United States has $15,950 in credit card debt, just under 40 percent of them carry debt over into the next month, and college students average $40,000 in student loan debt.

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