Americans owe about $1.5 trillion in student loan debt and many new college graduates are stuck in low-wage jobs.

U.S. Federal Reserve Bank release and a research report by the New York Fed on annual wages of recent college graduates partly confirm the claim.

According to the FRB memo, the Outstanding levels of student debt in the U.S. is more than $1.5 trillion. At present, it has reached $1,641,973.73 in Q4 of 2019. Graphical representation of annual wages of recent college graduates aged 22 to 27 shows that the minimum annual wage of a person with a bachelor's degree in the U.S. is $45000 in the year 2019. The wage figures prove that not many are stuck in low-wage jobs earning $25,000 or less a year as claimed.

Reference links

Federal Reserve System

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Federal Reserve Bank of New York

refutes

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