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An NBER working paper found that older siblings tend to make more money than their younger siblings. AdvertisementFor years, researchers have found that the eldest child tends to earn more money and perform better on cognitive tests than their younger siblings. AdvertisementOther reasons first-born siblings might have an advantageDayal told BI that studies across various countries and contexts have corroborated the idea that older siblings tend to have more education and economic success than their younger siblings. "Interestingly, these benefits start to emerge around age 12, when older siblings have more to teach and younger siblings are more ready to learn." AdvertisementGrant cited a study of 240,000 Norwegian teenagers that found younger siblings who had firstborn siblings die in infancy went on to have higher intelligence scores than laterborns with firstborn siblings.
Persons: , Meltem, Daysal, Younger, Dayal, Sandra Black, Columbia University who's, Adam Grant's, Grant Organizations: Service, National Bureau of Economic Research, of Economics, University of Copenhagen, Columbia University Locations: Denmark
Graduate student debt now accounts for 47% of new student loans, according to the Congressional Budget Office. Federal graduate student loans have no effective cap unlike undergraduate loans, which are capped at $57,500 in Federal Student Aid. This has been the case since 2006, when federal graduate student loans were capped at $18,500. The average student debt for a master's degree for the 1999-2000 school year came in at $36,600, compared with $55,540 in 2016. The bipartisan debt-ceiling deal mandates student loan payments must resume by Aug. 30.
Persons: Biden's, , Sandra Black, Lesley Turner, Jeffrey Dunning, Joe Biden's, Donald Trump, Trump, Biden Organizations: Street, Service, Research, Grad PLUS, Universities, Congressional, Federal, Federal Student Aid, Congress, CBO, Grad, Biden, Secretary, Republican, Street Journal, White, Politico, Department Locations: Texas
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