Thirty and Broke

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00014405-thirty-and-broke/

Susan Berfield, of Business Week, offers an in-depth discussion on the struggle of 30-year-olds in America who are paying down student loans and racking up lots of credit-card debt. The result is a generation that is making very little progress on things such as buying a home or saving for retirement.

Ms. Berfield shares some powerful statistics, including “One-quarter of all college graduates are paying more than 12 percent of their income (toward their debt) — a level many financial experts regard as worryingly high. That burden will only grow. Interest rates on student loans are going up for the first time in five years.”

This article is a wakeup call for the millions of parents who still have time to shape the financial habits of their children.

For this complete story, please visit Thirty and Broke.

Thirty and Broke

Unknown Author

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