Overall, the percentage of Americans who were paying more than 40 percent of their income for debts like mortgages and credit card bills increased from about 17 percent in 1992 to 27 percent in 2008, but according to research done by Sherman Hanna, a professor of consumer sciences at Ohio State University, and his colleagues, it was those who were college-educated who were more likely than those with high school or less education to be above this 40 percent threshold – considered to be a risky amount of debt for most households (Hanna et al., 2016).

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