A new report from the Alliance for a Just Society reveals that if a person wants to make ends meet, they will need to make an average of $17.28 an hour or $18.67 if they have student loans. MarketWatch staffer Jillian Berman explains how this "living wage" means people simply cannot live off the minimum wage, even if it is raised to $15 an hour.
Berman also takes a look at how person needs higher wages if they borrowed money for a higher education:
Borrowers of color and women often don’t reap the same benefit from their student debt as their white, male counterparts in part because they’re more likely to land in low paying jobs or low paying fields, other research show.
Borrowers who don’t finish college also face particular challenges...That’s because they typically struggle more to land jobs with wages high enough to support their student loan payments.