If this is for real, it is real sad

The Atlantic has an article about where young people today find themselves titled Highly Educated, Highly Indebted: The Lives of Today’s 27-Year-Olds, In Charts, where they ask and answer the question:

What are today’s young adults really like? For those who’ve spent too much time gazing into the dark recesses of Thought Catalog or obsessing over “Girls,” the Department of Education has a new report that offers up some enlightening answers.

Three of the graphs stand out to me, and tell a real scary story. The first is a breakdown of education trends.

education level for 27 year olds

More than 84 percent of today’s 27-year-olds have some college education. Only a third have a bachelor’s degree.

The second graph is about how much those that went to college borrowed to pay for that experience:

About half of today's 27-year-olds borrowed students loans.

About half of today’s 27-year-olds borrowed students loans.

Finally, you get the last graph showing what these people earn:

earnings for a 27 year old

In 2011, today’s 27-year-olds were more likely to be earning less than $15,000 a year from work than they were to be earning more than $40,000.

I was earning over $40K and had zero debt (until I got married) by the time I was 27, and that was almost 25 years ago. Sure, I am probably not your average person, but I don’t see myself as anything special either, so these numbers leave me scratching my head. That we have so few kids, over a quarter of a century later, more in debt, and earning so little, is not a good trend.

More debt, less education, and the worse thing possible, less opportunity, after some of the hardest “social justice” years is not a good sign for that concept, now is it?

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  1. Seattle Outcast

    My career didn’t take off until I had left the economic disaster area known as Colorado and had a restraining order against my girlfriend of 7 years. But then, I wasn’t out of college until I was 25 due to a stint in the military.

    Even so, I took out less than $10K in loans for my education and worked my way through. Go ahead, you be part of a Pizza Hut management team, maintain an A- average in an engineering college, and keep up with a girlfriend that I later found out was a sociopath. It’s not easy.

    However, I wasn’t living with my parents more than 6 months after high school. That deal was known to be off the table since I was 6.

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  2. Dave D

    Interesting that only 11% borrowed more than 50K. That means mommy and daddy kicked in the bulk of the cost for more than 89%. College is out of control!

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  3. Seattle Outcast

    Mommy & Daddy would like to speak to you about that 2nd mortgage they took out on the house so you could get a degree in art history and serve coffee until you are 35…..

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