The Pew Research Center recently featured an article highlighting the overall trends over time in the percentage of households with outstanding student debt. By reporting on the percentages by the age of the head of household over time, the graph provides a picture that illustrates how the experience of possessing student debt has become increasingly normative in younger households. More specifically, from 1989-2010 the percentage of households in the youngest two age cohorts (younger than 35 and ages 35-44) with outstanding student debt more than doubled.
So What?
While there continue to be many news stories related to the cost of higher education and a fair number related to average indebtedness of recent graduates, the percentage of adults by age who have outstanding student loan debt does not receive much attention.
- Were you aware that the percentage of younger households with student loan debt had more than doubled in a generation (roughly 20 years)?
- What implications do these statistics have on how your local congregation engages in ministry and mission with younger adults?