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Can Education Costs Spur More Foreclosures?

According to the Federal Reserve Bank of New York's Quarterly Report on Household Debt and Credit, U.S. student loan debt increased by $37 billion in Q3, up to a total of $1.44 trillion total as of September 30. A recent LendingTree analysis found that the median debt balance for millennials living in the 50 biggest U.S. cities is $23,064. This massive financial burden must inevitably send ripples out through the larger economy, but is there a correlation between higher education costs and the rate of foreclosures?

That's the question on deck in the video below, the first installment of our DS News Asks video series. For this inaugural installment, sponsored by Auction.com, DS News looks at a recent study from the journal Demography, which analyzed the potential impact of families with children seeking higher education on the rate of foreclosures. What did they find? Click play on the video below to find out ...

About Author: David Wharton

David Wharton, Online Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@DSNews.com.
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