Newspaper Article

CLEVELAND FED STUDY; College smart choice for those who finish degree

LINKHORN, TYREL

2014

Overview

\"People are more likely to come out with quite a bit of debt,\" Mr. [Daniel Carroll] said. \"People would often compare that to your initial earnings out of college, but one of the points we made is you may not realize the full advantage of that education until later in your life.\" The average amount of household student loan debt carried by those people grew 270 percent from 1989 to 2010. That's less astonishing than the nearly 400 percent growth for college graduates to $16,714 over that period, but Mr. Carroll said it goes to show how critically important it is for people to think about the programs they are going into, their chances for success, their earning potential, and their ability to pay back their loans. Though debt levels get a lot of headlines, Mr. Carroll said, \"more debt isn't necessarily bad in and of itself. What we really want to be concerned about is the rising cost of education. To a certain extent the fact that people carry more debt is that they have more access to credit.\"

• Publisher: The Blade
• Subject: Carroll, Daniel