Experts: Young People's Debt Skyrocketing

May 2, 2005

CHICAGO (AP) -- At 24, Jeffrey Berman is in better financial shape than many of his peers. He has no student loans, thanks to his parents, and about $1,200 in credit card debt, which he plans to pay off with his income tax refund. He also just started contributing $85 a month to his 401(k) -- an amount he considers paltry, but better than nothing...