Studies show that young adults with loan debt are dragging down the economy as they are less likely to spend money. Financial strains are forcing Americans in their 20s and 30s to live frugally, causing them to pass up a nice restaurant or new clothing item as they keep in mind the tens of thousands of dollars they owe in debt. Such debt also bars young adults from making bigger purchases that contribute to the economy as well, such as houses and cars.

For more information on this story, click here.