This generation has a huge and growing student debt burden. It’s not who you think

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A recent analysis of American debt revealed a startling shift: Borrowers between the ages of 45 and 74 now owe more money in education-related debt, on average, than do younger college graduates.

People under age 35 with student debt owe $32,900 on average, according to data from the Fed’s 2016 Survey of Consumer Finances. That debt number is higher for every other 10-year age bracket up to age 75: It peaks at $37,000 for 45- to 54-year-olds, but even 65- to 74-year-old borrowers owe an average $35,400.

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Education: getting a degree might not be everything

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A lot of kids at age 17 or 18 are often not clear, about what career would fit them best. Add to that is a changing world, that would make things even more confusing. The job opportunities that exist now were absent ten years ago and so it is quite likely that what you train for now might not be enough sooner or later.

At one point degrees were the sole motivating factor for higher education. There was prestige in the number of degrees you ‘gathered’ or what degree, for that matter, you attained. Although degrees continue to be relevant, somehow they no longer are a defining factor for some jobs at the entry level.

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Record Numbers of College Students Are Seeking Treatment for Depression and Anxiety — But Schools Can’t Keep Up

 

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Not long after Nelly Spigner arrived at the University of Richmond in 2014 as a Division I soccer player and aspiring surgeon, college began to feel like a pressure cooker. Overwhelmed by her busy soccer schedule and heavy course load, she found herself fixating on how each grade would bring her closer to medical school. “I was running myself so thin trying to be the best college student,” she says. “It almost seems like they’re setting you up to fail because of the sheer amount of work and amount of classes you have to take at the same time, and how you’re also expected to do so much.”

 

At first, Spigner hesitated to seek help at the university’s counseling center, which was conspicuously located in the psychology building, separate from the health center. “No one wanted to be seen going up to that office,” she says. But she began to experience intense mood swings. At times, she found herself crying uncontrollably, unable to leave her room, only to feel normal again in 30 minutes. She started skipping classes and meals, avoiding friends and professors, and holing up in her dorm. In the spring of her freshman year, she saw a psychiatrist on campus, who diagnosed her with bipolar disorder, and her symptoms worsened. The soccer team wouldn’t allow her to play after she missed too many practices, so she left the team. In October of her sophomore year, she withdrew from school on medical leave, feeling defeated. “When you’re going through that and you’re looking around on campus, it doesn’t seem like anyone else is going through what you’re going through,” she says. “It was probably the loneliest experience.”

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Millions of college students are so terrified of loans they’re turning to ‘Sugar Daddies’ for help paying for school

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A growing number of students are turning to dating sites to find Sugar Daddies and Mommas for help with college costs. Christina, a 29-year-old Sugar Baby and MBA student living in Las Vegas, talked to Business Insider about her experience. She’s received over $90,000 for education-related costs, but says the stigma is the hardest part about being a Sugar Baby.

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