The Upper-Middle Class Has Itself to Blame for Student Debt

Jordan Weissman:

When it comes to paying for college, upper-middle-class families often get the worst of all possible worlds. They're not wealthy enough to treat the cost of tuition as an afterthought. They're not needy enough to qualify for big discounts. But they're often status conscious enough to pay whatever's necessary for their kids to attend an elite college.

And so somewhat unsurprisingly, the Wall Street Journal has found that in this age of rising student debt, its risen most of late among the upper-middle class. Between 2007 and 2010, the percentage of households taking out loans to pay for college grew fastest within the group earning between $94,535 and $205,335 a year.

Posted by Jim Zellmer at August 15, 2012 1:36 AM
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