The rising cost of higher education is dogging Americans into retirement, with people aged 65 and older still carrying $18.2-billion (U.S.) in unpaid student loans, according to a U.S. federal report released on Wednesday.
While the Government Accountability Office report noted that relatively few U.S. households headed by people 65 or over are carrying student loans, the value of the unpaid debt had spiked from $2.8-billion in 2005, before the financial crisis.
Los Angeles is in a rental crisis. Los Angeles is in a homebuying crisis. There isn’t enough housing. There definitely isn’t enough housing that’s affordable for the average wage earner (let alone the poor). Incomes are much lower in LA than they are in other high-priced cities: 22 percent lower than in San Francisco and 13 percent lower than in New York, according to Zillow (median income is $59,424). But Mayor Garcetti announced a proposal this week to raise LA’s minimum wage to $13.25 an hour over the next three years (the minimum wage in California today is $9); the measure would raise wages for nearly 40 percent of LA’s workers. But those workers still wouldn’t be able to afford to actually live in Los Angeles.
I still think the idea that a person should be able to live independently at the minimum wage is just a crap assumption in the first place. That doesn’t seem to be part of discussion in most of these articles.
Part of wealth building is learning how to be in a good relationship.
Autor and Wasserman cite data showing that “after controlling for a host of individual and family characteristics, growing up in a single-parent home appears to significantly decrease the probability of college attendance for boys, yet has no similar effect for girls.” The authors add that when raised with a nonresidential father, “boys perform less well academically than girls.”
One in four people say they now owe more in medical debt than they have saved in an emergency fund, according to the Bankrate.comreport released Thursday. That problem is particularly acute for lower-income earners. Among people who make less than $30,000 annually, 44 percent revealed that their medical debt exceeds their emergency savings fund, Bankrate.com found.