12-13-2017  1:16 am      •     
MLK Breakfast
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NEWS BRIEFS

Special Call for Stories about the Spanish Flu

Genealogical Forum of Oregon seeks stories from the public about one of history's most lethal outbreaks ...

Joint Office of Homeless Services Announces Severe Weather Strategy

Those seeking shelter should call 211 or visit 211.org. Neighbors needed to volunteer, donate cold-weather apparel ...

Q&A with Facebook's Global Director of Diversity Maxine Williams

A conversation on diversity and the tech industry ...

City Announces Laura John as Tribal Liason

Laura John brings an extensive background in tribal advocacy and community engagement to the city of Portland ...

Humboldt Sewer Repair Project Update: Dec. 4

Environmental Services continues to repair more than 3 miles of public sewer pipes ...

U.S. & WORLD NEWS

OPINION

The Skanner Editorial: Alabama Voters Must Reject Moore

Allegations of predatory behavior are troubling – and so is his resume ...

Payday Lenders Continue Attack on Consumer Protections

Charlene Crowell of the Center for Responsible Lending writes that two bills that favor predatory lenders has received bipartisan...

Hundreds Rallied for Meek Mill, but What About the Rest?

Lynette Monroe, a guest columnist for the NNPA Newswire, talks about Meek Mill, the shady judge that locked him up and mass...

Top 10 Holiday Foods to Avoid Feeding Your Pet

Dr. Jasmine Streeter explains why pampering pets with holiday treats can be dangerous (and pricey) ...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

Tami Luhby CNN Money

NEW YORK (CNNMoney) -- A record number of American households have student loan debt.

Some 19 percent of households had student loans in 2010, up from 15 percent just three years earlier, according to a new report from the Pew Research Center released Wednesday.

Student debt has exploded in recent years as more people attend college, more turn to debt to finance it, and more take out bigger loans while in school, said Richard Fry, a senior economist at Pew who authored the report. This is bucking the trend of Americans shedding debt during the Great Recession and its aftermath.

"In the age of deleveraging, student loans are one form of rising debt," he said.

On average, borrowers owed $26,682 in 2010, up 14.3 percent from three years earlier and more than double what they owed in 1995. But while stories abound of people mired in six-figure debt, they are the exception, Fry said. Only 4 percent owe more than $100,000.

In total, student loan debt is approaching $1 trillion, according to a separate Federal Reserve Bank of New York report.

Student debt levels are rising across the board, but they are growing the fastest for the nation's poorest and most affluent, Fry said. The poorest fifth owed 13 percent of the outstanding debt in 2010, up from 11 percent three years earlier, even though this group is less likely than richer Americans to attend college. And the wealthiest households were on the hook for 31 percent of the student debt owed, up from 28 percent .

The richest share of households, not surprisingly, is better able to handle the burden. College debt accounted for only 3.3% of their household income. But student loan debt ate up nearly a quarter of the earnings of the poorest fifth, the study found.

Some 44% of student loans are owed by those under age 35, with another 26% owed by those between 35 and 44. Senior citizens don't fully escape either, although they accounted for just 2% of the outstanding student loan debt.

Recent grads with college debt may fall into the lower income categories, especially since it's harder for them to find jobs. So they may struggle for a while to pay back their loans.

"They are well-educated, but not yet making killer salaries," Fry said about those just out of school. "For a while, they will be burdened."

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