Student loans may drag down economy for years

Soaring levels of student loan debt are not only burdening recent graduates but have created entire generations that aren’t able to save and invest, potentially hurting long-term economic growth.

College-educated members of Generation X, those born between 1965 and 1980, have accumulated less wealth than their parents had at the same point in their lives, according to a new study by the Pew Charitable Trusts. The Gen Xers have built up $20,000 less home equity than their parents, adjusted for inflation, and a median debt seven times higher.