Study shows overall debt much larger for students with loans

BIRMINGHAM, Ala. (WIAT) – A college degree may earn you higher wages, but it’s likely you’ll be stuck with more debt.

Those are the findings of the Pew Research Center. The study found that people under 40 who took out student loans have almost twice the overall debt load of those who graduated without debt.

That’s because they are also racking up car loans, credit card debts and mortgages.

The typical household income of college-educated student debtors is over $57,000.

The report shows those with a college degree earn nearly twice as much as people without bachelor’s degrees.

Copyright 2014 WIAT 42 News

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