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Blog Posted in avatar   Andrew Moran's Blog

Research shows younger generation more indebted, could die in debt

By Andrew Moran
Posted Jan 17, 2013 in Business
Economic Collapse News | Studies find higher debt loads among younger generation, indication of economic collapse
"If debt wasn’t more ubiquitous in the collapse of the United States economy amongst private citizens then the following research statistics and figures may suggest the nation’s future is rather bleak as many may perhaps perish in debt.
"Americans in their 20s and 30s not only have tremendous student loan debt, they also have an enormous amount of credit card debt and more than older consumers, according to a new study by the Ohio State University. The study authors also showed that younger Americans are repaying the debt back more slowly and face the risk of even dying in debt.
"The research found that individuals born between 1980 and 1984 have approximately $5,689 more debt than their parents had at the same stage of their life and $8,156 more than their grandparents."