February 03, 2016 by I Am Not A Loan
In partnership with various organizations working to curtail the student debt crisis, members of the United States Senate have recently put together a campaign to set the student debt crisis talks front and center. Dubbed “#InTheRed,” the campaign is part of a larger effort by Senate Democrats to make student debt a priority in 2016. One of these Senators, Chuck Schumer (D – NY) said, “I am launching this campaign today to encourage students and parents and student loan debt holders to share their stories so we can finally force Congress to comprehensively address the issue of college affordability, which is key to the ongoing success of our economy.”
Though all generations suffer from student debt and its wide-reaching effects, Millennials are especially affected. Millennials who have yet to reach college have hope that Congress passes some major student debt legislation beforehand. However, the college debt problem extends beyond just college-bound Millennials.
A study from the Pew Research Center found that there is a rise in the wage disparity between young adults with and without a college degree. That is, Millennials that have only a high school degree make 62 percent of what a college-educated Millennial makes. Compare that to early Baby Boomers when a high school degree recipient made 77 percent of a college degree. The rise in wage gap between high school and college graduates is at an all time high in the Millennial generation.
To see the full post, click here to go to the Higher Ed Not Debt blog.