A Jan. 3 New York Post editorial on “Overpaying for College” quotes Dr. Richard Vedder, Director of the Center for College Affordability and Productivity and Professor Emeritus of Economics at Ohio University.
Dr. Richard Vedder
If millennials today think transitioning out of their parents’ basements and into adulthood is difficult, wait until they see new data from the Census Bureau. It reports that one in five adults between the ages of 18 and 34 now live in poverty.
These Census reports are consistent with the under- or unemployment of millennials.
But it doesn’t get to the fundamental cause of their distress, which is this: Millennials are carrying too much debt from loans that went to pay for college degrees that, in the real world, aren’t worth that much.
Richard Vedder of the Center for College Affordability and Productivity notes that the poverty millennnials face today isn’t as severe as the “the sort of hard-core poverty where you have significant malnourishment.”
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