The student loans debt crisis, explained

After the recession, homeownership rates for 30-year-olds fell dramatically, from 32 percent in 2007 to 21 percent by 2016, according to a report last year by the Federal Reserve Bank of New York. It found that, between 2003 and 2011, there was a roughly $5,700 increase in per capita student debt. And it estimated this increase could be responsible for as much as one-third of the decline in homeownership for those between 28 and 30 years old.

As of December 2018, outstanding student loan balances totaled $566 billion more than credit-card debt, according to Federal Reserve statistics. The loans trail only mortgages as the most common household debt.

Note: This video was originally published on May 31, 2018 | Video by Julia Dourgarian