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Richard's Remarks


Debt, debt, debt -- Student debt at over one trillion dollars is now second to housing debt which is nearly an astounding $8 trillion. More Americans than ever are getting college diplomas, and it's costing them. Adjusted for inflation, college tuition has increased more than fifty percent since 1999, spurring students to take on crushing loads of debt. And it got much worse yesterday, when the rate charged on federally subsidized Stafford loans doubled from 3.4% to 6.8%. The change means bigger payments for families. Over half of all student debt is held by households whose net worth is under $8,000 (much of the above is courtesy of Bloomberg Businessweek).


On thin ice -- More than three quarters of Americans say they are living paycheck to paycheck, with barely enough to scrape by in an emergency. In a survey of 1,000 adults, fewer than one in four said they had enough money ... Log in or subscribe to continue reading.

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