Congrats, College Grads. Now Good Luck Paying Off All That Debt
- Median earnings for degree holders up 2.1% from 2013 to 2016
- Debt now tops $1.3 trillion; tuition rising faster than wages
Students pull a mock 'ball & chain' representing the $1.4 trilling outstanding student debt at Washington University in St. Louis, Missouri.
Photographer: Paul J. Richards/AFP via Getty ImagesThis article is for subscribers only.
As more Americans graduate from college with huge amounts of student-loan debt, they’re taking jobs that haven’t been as rewarding.
The latest Federal Reserve Survey of Consumer Finances shows the median income for heads of households who have college degrees grew just 2.1 percent between 2013 and 2016. That compares with a 6.1 percent increase in tuition, fees and room and board on average at four-year public universities over a similar period, according to College Board data.