Student debt-laden college grads have median net worth under $9K

By Eric Owens | The Daily Caller

College graduates who are under 40 years of age and who have accumulated student debt have a median net worth of just $8,700, according to a new study from the Pew Research Center.

That meager average net worth compares to a median net worth of $64,700 for college grads in the same age cohort who did not take out student loans, reports the Los Angeles Times.

How much is $8,700 these days? It’s not much. That amount of money will buy you a silver four-door 2003 Toyota Avalon XL with just fewer than 93,000 miles, for example.

Indebted twentysomething and thirtysomething Americans are also weighed down by other types of debt resulting from credit-card borrowing and auto loans in addition to their student-loan burden.

at The Daily Caller.