Young Invincibles started out with health care reform. But the issues facing young Americans are far greater than health insurance coverage alone. Not convinced? Just consider some of the following statistics:
- 76 percent of college undergraduates have credit cards, and the average undergrad has $2,200 in credit card debt
- Those lucky enough to attend an institute of higher education will amass an average of $15,000 in student debt.
- Nearly a quarter of graduates of for-profit schools owed over $40,000 in student loans.
- The debt burden young Americans face is at crisis levels. The average young adult household with credit card debt now spends nearly 24 percent of their income on debt payments.
- Of course, you need a job to pay for all of that debt. But the recession is hurting young Americans in that department as well. Job offers to 2009 graduates were down 20 percent.
YI is already working on these issues. We supported the increase in student financial aid and worked with partners to make sure that young adults get treated fairly by lenders and educational institutions.
But we’re just getting started. Stay tuned as we begin taking on the issues that have the biggest impact on young America. There is plenty of work to do.