Guess Which Students Have the Most College Loan Debt (CNBC)
December 11, 2013
Assistant Professor of Sociology Jason Houle says he was surprised by the results of his research on college loan debt among students from low-, middle-, and high-income families, CNBC reports.
His forthcoming study found that lower-middle-income students carry more debt load than students from either of the other economic groups, according to CNBC.
“Subjects whose families earned $40,000 to $59,000 annually racked up approximately $9,200 more student loan debt than their peers whose families earned between $100,000 and $149,000 per year, and approximately $13,0000 more debt than young adults whose families made more than $150,000 annually,” Houle tells CNBC. “Students from families with incomes of $60,000 to $99,000 also carried more debt than those from higher-income families.
“It didn’t surprise me that kids from affluent backgrounds and whites tended to have less,” he adds. “But I would have thought I’d see a straight-up negative association between debt and income, and that wasn’t the case.”
Read the full story, published 12/11/13 by CNBC.