There has been spate of national media reporting about the broad, negative impact of US student loan debt on the US economy - - examples, here and here - - and original research by One Wisconsin Institute has made a major contribution to the discussion:
To say the Institute’s campaign on student loan debt has started with a bang is an understatement to say the least. The results of a comprehensive report on student loan debt, homeownership and automobile purchasing were the lead story in the state’s largest newspaper.The Journal Sentinel noted some of the student loan burden in Wisconsin, as compiled by the Institute:
Individuals with bachelor degrees with student loan debt were making average monthly payments of $350 on loans with an average term of nearly 19 years...(Disclosure: I am on the Institute board.)
For those with advanced degrees, monthly student loan payments averaged $448, with an average term of 22 years.
Over $200 million in annual new car sales are lost as a direct result of student loan debt and households with student loan debt are significantly more likely to rent rather than own their home...