The activities of young people between the ages of 18 and 24 represent enormous potential for our nation’s economy, and getting an education during these years is a crucial step towards job opportunities and future economic prosperity. Since the Great Recession, the number of people in this age group who are unemployed and not in school has increased, posing both current and future problems for those individuals and their communities. 

 

Attending some college without graduating immediately improves an individual’s chances against unemployment and poverty, and leads to greater future earnings. Graduating with a bachelor’s degree further improves a young person’s economic and social prospects. High rates of employment and education in young adults also provides benefits to their communities. Young adults who attend school are less likely to become teenage parents and are much more likely to contribute to economic activity and growth of their neighborhoods in the future. However, average tuition prices have more than doubled over the past 30 years while household incomes have remained stagnant. It currently takes people nearly 20 years on average to pay off their student loans.