About the Report
Robert D. Manning of Rochester Institute of Technology conducted in-depth interviews and group discussions with nearly 150 people to better understand American's attitudes and behaviors when it comes to their debt.
A key focus of the research is how debt affects us at each of six "life stages:"
- College Students
- Singles
- Young Families
- Maturing Families
- Empty Nesters
- Seniors
The findings were striking. A few highlights:
- Living with significant levels of debt has become an acceptable part of everyday life.
- Many people attribute their willingness to go into debt to a dramatic increase in spending on children and grandchildren.
- Attitudes toward homeownership have changed dramatically from simply providing shelter to becoming "the perfect investment."
- Financial literacy, particularly about borrowing, credit and debt, is low.
Download the Executive Summary
Download the Report
About the methodology