Thursday, September 15, 2011
College graduates are the fastest-growing group of consumers who have filed for bankruptcy protection in the past five years, according to a new study by a financial nonprofit, which underscores the broad reach of the Great Recession.
The survey by the Institute for Financial Literacy, slated for release Tuesday, found that the percentage of debtors with a bachelor’s degree rose from 11.2 percent in 2006 to 13.6 percent in 2010. The group tracked similar but smaller increases in consumers with two-year associate and graduate degrees.
Note that consumers with graduate degrees are filing in greater numbers. The percentage of bankruptcy debtors with a graduate degree was 5.9 in 2000 and was 6.7 in 2010. Here is the article from the Washington Post.