Rick Rieder, Chief Investment Officer of Global Fixed Income at BlackRock, wrote a startling article on “the economic side effects of the student loan crisis.”
1. Homeownership is on the Decline
2. More Student Loan Debt Among Older Age Groups
3. College Education is Still Key to Employment and Earnings
So you have to have a college education to earn decent income and steady employment, but the cost of that degree makes it nearly impossible to purchase a home, save for retirement, etc.
Rieder offers some excellent perspective on why this is some seriously alarming data for the economy.
Published by Douglass Gaking
Doug is a certified business educator and music educator. He currently teaches businesses and computer science at Avon High School in Avon, Indiana and is the director of IGNITE Winter Percussion in Shelby County, Indiana. He was a band and choir director for 13 years and continues to judge and clinic with ensembles. He performs drums and percussion, composes and arranges music for concert band, marching band, and percussion ensemble, and teaches and writes about business, finance, and economics. He has a B.M. in Music Education from Butler University and an M.B.A. in Economics from Southern New Hampshire University. He is also an avid reader and a lover of art, history, science, and nature, especially birds and other wildlife.
View all posts by Douglass Gaking
Econ4All 