The real college crisis: Student debt drags down economy.
Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.WASHINGTON — The college admissions scandal may have driven the conversation about higher education this week, but away from the headlines the far bigger story is student loan debt and what it is doing to a generation of Americans.
Homeownership fell across all age groups by about 4 percentage points, but the millennial drop was much steeper. . That looks very similar to the numbers for Generation X, who carry $39,000 in debt on average, and Baby Boomers who hold about $36,000 in debt, according to the study. Millennials have almost the same amount of debt, in dollar terms, as their older generational counterparts.
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