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Article: Another fine mess for Generation Y.(Student Loans)
- Article from:
- USA TODAY
- Article date:
- December 1, 2008
CopyrightCOPYRIGHT 2008 Society for the Advancement of Education. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Some 40% of recent college graduates have more than $10,000 in student loan debt and over 20% owe at least $5,000 on credit cards before age 25, according to a Harris Interactive study. "Generation Y is in some serious money trouble," says international empire-builder James White, a 23-year-old self-made millionaire, motivational speaker, and author of My First Million.
"My age group spends tens of thousands of dollars to go to college and then owes thousands of dollars more in student loans and credit cards before they get their first paycheck."
Teenagers and young adults are growing up at a different time of history than their parents or grandparents. ...