The housing market is just steadily rising and if the incoming generation will not change their perception of student debts and its effects, all of these statistics could get worse.
New York, NY (PRWEB) April 20, 2013
Student debt is continually making headlines and this time, as Washington Post reports in April 17, the overall economy may be in danger because of this credit problem. Although graduates have something to rejoice over, their debts are not part of it. The economy may be steadily improving but it is too slow to be able to keep up with the debt troubles of the average American.
The article is boldly titled as “High student debt is dragging down the US economy” and with the statistics shown, it describes the scenario perfectly. The article cites various figures from another report from the Federal Reserve Bank of New York entitled “Young Student Loan Borrowers Retreat from Housing and Auto Markets.”
The Federal Reserve states that over the past decade, student loans have gone past credit card debt and auto loans, among others. What is really alarming is the fact that those with student debt seem to be unable to invest in their own homes and vehicles. This shatters the perception that a degree will guarantee more growth in a consumer’s personal wealth.
It is reported that in 2012 that there are 2 percent more homeowners for non student debtors as compared to those with debt. The same is true for vehicle owners wherein more people without student debt owns one as compared to the other. These statistics are for those between the age of 25 and 30.
The lack of personal investments will drag the economy down in one way or the other. The housing market is just steadily rising and if the incoming generation will not change their perception of student debts and its effects, all of these statistics could get worse.
Debt Consolidation USA, the leading information and referral source for debt relief services, agrees with the report that student debt poses a serious threat to the nation’s still struggling economy. This is why the company is bent on developing a website that will serve as a “one-stop” resource that debtors can go to for advice.
The company believes that adequate information about debt will lead people to stop incurring debts in the first place. Relative to that, DebtConsolidationUSA.com is commited to providing helpful articles that will assist any debtor in finding debt help. There are many options but debtors should know how to choose the right one that their finances can afford.
DebtConsolidationUSA.com offers debt consolidation services that intends to work with consumers to achieve a debt free life. This is done through a thorough financial analysis, customized debt relief plan and a sincere intention of educating clients with the right financial management skills that will help them make better choices in life.
To know more about debt consolidation and how it can help with various debts, visit their website.