Issues 2020: Millennials Aren’t Drowning in Student Debt

By Beth Akers:

Sixty-six percent of millennials have no student debt at all. That’s because they haven’t gone to college or because they managed to get through without having to borrow. Those who do have debt tend to have modest burdens relative to their income. Typical four-year-degree graduates who borrow will accumulate $28,500 in debt over the course of their enrollment. That can be paid back with monthly payments of less than $200, which is a relatively small share (4%) of the average monthly earnings for this population ($4,717).

Read more: Manhattan Institute