
From the pages of the St. Louis Today;
Many in the next generation of workers will be so debt-burdened they
will have to delay home purchases, limit vacations, even eat out less
to pay loans off on time.
Kristin Cole, 30, who graduated from Michigan State University’s law
school and lives in Grand Rapids, Mich., owes $150,000 in private and
government-backed student loans. Her monthly payment of $660, which
consumes a quarter of her take-home pay, is scheduled to jump to $800
in a year or so, confronting her with stark financial choices.
Anyone who knows me, knows I am not a pessimist by nature but this may be a trend that will drive the age at which our coveted demographic chooses to lease an apartment home.
