Statistics Pertaining to Quarterlife Solutions, Teens, Twentysomethings, and early Thirty-Year-Olds

 

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College:

 

Of 2,654 colleges and universities surveyed nationwide, statistics state that one out of every four students will drop out of school by their second year.

 

26% of people age 25 and over have completed four years or more of college in the United States

 

More than 1,100 college students commit suicide each year. 

 

30% of college students identified themselves as suffering from an anxiety disorder or depression.

 

40% of students reported feeling “so depressed it was difficult to function” at least once during the year.

 

More than 40% of college graduates now leave their campuses owing more than $20,000 in student loans. Among those earning doctoral degrees, more than 60%  leave with more than $30,000 in student-loan debt. The State Public Interest Research Groups' Higher Education Project reports that 39 percent of student borrowers leave academia with unmanageable debt (loan payments in excess of 8 percent of monthly income are considered unmanageable).

 

Average lifetime earnings for a male college graduate-            $80,000 year

Average lifetime earnings for a male high school graduate-     $35,000 year

Average lifetime earnings for a female high school graduate-  $25,000 year

Average lifetime earnings for a female college graduate-         $50,000 year

Lifetime sum of earnings for a male college graduate -            $1,699,000

Lifetime sum of earning for a female college graduate -           $695,000

 

 

 

High School:

 

84% of people age 25 and over have completed high school in the United States

 

In 1999 the national high school drop-out rate was 10%.

 

Between 1973 and 1999 the average hourly wage (adjusted for inflation) of high school dropouts fell 24 percent.

 

 

Going Home:

 

4 million people between the ages of 25 and 34 live with their parents

 

18 million unmarried Americans ages 18 to 34 live with their families.

 

61% of college students plan to live with their parents after graduation. The percentage planning to stick around for more than a year also inched up to 24% in 2003 from 19% a year earlier.

 

Between ages 18 - 34, young adults receive an average of $38,000 in support from their parents.

 

Approximately 65 percent of college graduates are returning to live with their parents, hoping for free room and board while searching for a job.

On average, it was determined that the proportion of people in their 20s living with their parents increased 50 percent between 1970 & 1990.
 

56.8% of men and 43.2% of women aged 22 - 31 lived at home in 2002. A slightly older demographic sampling (ages 25 - 34) revealed 13.6% of men and 8.3% of women living at home, slightly higher than 2001 figures.”

 

There are 2.6 million households in the U.S. in which the householder resides with their children and/or grandchildren. Since 1990, the number of multigenerational households has grown by approximately 60 percent.

 

More than 41 percent of Canadians in their 20s are still living with their parents.

The British have coined the term "Kippers" to describe adults who are still living with their parents. It is an acronym for "kids in parents' pockets eroding retirement savings." In Japan, the translation for "parasite singles" is sometimes used.

 

 

Drug and Alcohol:

 

Nationally in 2002–2003, persons aged 18 to 25 had the highest rate of alcohol dependence or abuse (17.4 percent) in the Nation

 

The highest rates for illicit drug dependence or abuse occurred in the 18 to 25 age group

 

The highest rates for alcohol dependence occurred in the 18 to 25 age group

 

 

 

Suicide and Depression:

 

Suicide is the third leading cause of death among young people ages 15 to 24. In 2001, 3,971 suicides were reported in this group. Adolescents and young adults often experience stress, confusion, and depression from situations occurring in their families, schools, and communities. Such feelings can overwhelm young people and lead them to consider suicide as a “solution.”

 

Young people aged 18 to 29 are three times more likely to suffer depression, as are adults 60 years and older.

 

 

Grown Up:

 

Most Americans today don't consider a person an adult until age 26, or until she or he has finished school, landed a full-time job, and begun to raise a family. Living independently from one's parents is expected by an average age of 21, yet living on one's own is considered less of a determining factor in reaching adulthood (only 29 percent say it's an "extremely important" step) than completing an education (73 percent) and supporting a family (60 percent”

 

 

Money:

 

30% of young adults aged 18 and 24 were living below the poverty line in 2000, a rate about double that of 25- to 34-year-olds, and triple that of middle-aged adults (35 to 64).
 

Among youth aged 18 to 24 in 1973, 1985 and 1997, earnings in 1997 were the lowest of all three time periods.

 

Part of their economic vulnerability is a function of the transition they are undergoing. Many 18–24-year-olds have not completed their educations yet. Similarly, only 71% of this younger group was in the labor force, compared with nearly 80% of the 25–34-year-olds. When they were working, they were often in low-paying jobs.

 

Today's middle income families spend approximately $170,460 on each child through the age of 17. However, it seems parents continue providing support beyond that age: approximately 23 percent of that amount in the 17 years following.

 

Since the 1970s, there has been a 50 percent increase in the number of youths living at home, which alone has led to a 19 percent increase in parental time and money contributions.

 

 

Debt:

 

College graduates fear debt and joblessness more than another terrorist attack. When asked, “What they are most fearful of at this time?” 13.4% said a terrorist attack; 32.4% said going deeply into debt; and 31.2% said being unemployed.

 

More than 40% of college graduates now leave their campuses owing more than $20,000 in student loans. Among those earning doctoral degrees, more than 60%  leave with more than $30,000 in student-loan debt. The State Public Interest Research Groups' Higher Education Project reports that 39 percent of student borrowers leave academia with unmanageable debt (loan payments in excess of 8 percent of monthly income are considered unmanageable).
 

Student loan debt has nearly doubled over the past eight years to $16,928.
 

90% of college junior and seniors say having good credit is important, but 24% admit to having bounced a check and 32% have missed a credit card payment.

 

 

Savings:

 

Today only 39% of households under age 35 own a retirement savings account (not much less than the 43 % share for all households).

 

 

Career/Job:

 

People hold an average of 8.6 jobs between the ages of 18 and 32.

 

3 out of 4 college juniors and seniors expect to work soon after graduations with the majority of the rest planning on going to graduate school

 

The average expected salary of today’s graduate is $29,131

 

In the United States, 54 percent of 18-24 year olds indicate that they want to become entrepreneurs (versus 36 % of Baby Boomers).

 

10.9% of 20-to-24-year-olds were unemployed in September 2003 vs 6.7% in September, 2000. The jobless rate for 25-to-34-year-olds rose to 6.3% from 3.7% over the period.

 

Employment rates for youth age 16-24 is at a historic low. However, the gender gap has disappeared. Small businesses are key employers of youth.


 

Marriage:

 

In the United States, the average age of marriage for men is 27 and for women 25 (up from 23 and 21 in 1970). Furthermore, research shows that many members of this generation reach the age of 35 without having attained the 1980s conception of a family: married, two kids and a minivan.”

 

Women today generally marry at 25; men, at 27. Young couples may be together months, not decades, as divorce occurs progressively earlier. Even though the divorce rate actually leveled off in the 1990s, from about 50% of new marriages to about 43% currently, a 2001 survey by the Centers for Disease Control and Prevention says 20% of divorces in first marriages now occur within five years.”

 

 

The Future:

 

The National Opinion Research Center shows that while 18-34 year old Americans are clearly optimistic about their prospects for the future, they are less likely than other generations to believe that the United States has the best quality of life among advanced industrial countries.

 

80% of college juniors and seniors think they know enough to manage their finances after graduation.

 

A survey of 865 American undergraduates, graduates and MBAs found students are optimistic they will find a job they really want. Almost half of them described themselves as “very confident” or “extremely confident.”

 

 

Trends:

 

Young adults are sacrificing leisure time and housework for more paid work and child care. In large part, traditional gender roles prevail in the split between housework, child care, and paid employment, although the gap has narrowed somewhat.

Even after marriage, men and women combine a variety of roles more often than in the past, such as attending school and working, both before and after childbearing

 

How Many:

 

67 million Americans were between the ages of 18 and 34 in 2000

 

Almost 20% of young adults aged 25-34 were born outside the United States.

 

About one-fourth of young adults aged 18-34 are not in the labor force

 

About 1 in 5 (20%) aged 18 to 34 do not have a high school degree

 

61% have some college and 1 in 5 (20%) aged 18 to 34 have a 4-year college degree or higher. 

 

 

 

 

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