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Feb 04, 2025

Question of the Day: Which type of consumer debt has seen the largest percentage growth in the past 20 years: credit cards, mortgages, auto loans, or student loans?

Think you can guess which debt has skyrocketed the most? The answer might interest you more than you think.

Answer: Student Loans (430% increase)

Questions:

  1. How do you think the huge rise in student debt affects your generation’s future plans, like buying a house or starting a career?

  2. With credit card debt growing so fast, how do you think teens and young adults can avoid falling into debt traps?

  3. Do you think the government should do more to help with student loans, or should students take full responsibility for their debt?

  4. How do you think rising debt levels might change the way people spend money in the future?

 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

 

Behind the Numbers (Visual Capitalist):

"After a brief decline following the 2008 subprime crisis, the total debt burden has grown rapidly, far outpacing inflation. According to The Kaplan Group, total household debt has increased by 81.5% since 2003. While most debt categories have shown moderate growth, student loan debt stands out. It has increased fivefold over the past two decades, representing the most significant surge."


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NGPF's Managing Credit unit will give you lots of tools to help your student understand and manage their credit!

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About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.

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