College students will be shocked to hear that the wealth gap between Americans aged over 65 and Americans aged 35 has growth by more than two times since 2005.The results of the survey show that the economic downturn has hit younger people harder than the older generation. The shocking figures show that a household headed by a 65-year-old will have an average wealth of 47 times that of a household run by a 35-year-old.The 47-1 ratio is thought to be the largest wealth gap between the old and the young ever recorded in the US.The figures have led some economists to suggest that it might be worth considering rethinking the current system of providing so much financial help to retirees through programs such as Medicare and Social Security. Instead, some of this cash could be reallocated to younger people who have lost their jobs or are struggling to make ends meet because of student debts.Other analysts claimed that the growing wealth gap will call into question the whole basis of the American Dream - the idea that each generation does better than its predecessor. Either way, there is little doubt that student debt is adding to the problem and that college students and graduates are increasingly putting off moving their lives forward because of debt commitments.
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