Yesterday I asked you all a fun question: If you received $5,000 tax free, how would you spend that money?? 24 people (and one bear) responded. All people of various ages, various education levels, and various places around the country. Only 4 of those 24 people (and one bear) (16%) said they would actually spend the money on something. Everyone else would invest, donate, or, for the most part, pay down debt. One manner in which this survey is skewed: (as far as Im aware) at least 20 of those people are currently dealing with some type of student loan debt. This, my friends, is the simplest explanation as to how crushing interest rates on student loan debt and the astronomical price of higher education effects our economy and its continued recovery and growth. If the people who went to school to make more money to contribute to the economy cant afford to contribute to the economy because we are crushed with debt from going to school... how do we continue to grow the economy? **Please note: I know this isnt the ONLY answer and ONLY reason, and I know 24 people (and one bear) on Facebook isnt the most scientific poll in the universe, and I definitely didnt do really well in stats or economics, so dont shoot me, ok?**
Posted on: Thu, 02 Oct 2014 20:01:43 +0000
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