While many college students would not be able to get a degree without a student loan, most students are not happy with what it takes to pay back all that money.
A new survey of folks with undergraduate and graduate degrees, who took out student loans, find that 89% see their college debt as a financial burden. And as you can imagine, owing all that money has forced these people to make some major sacrifices over the years, including:
- Skipped a social event/gathering (39%)
- Getting a side hustle (39%)
- Serious budgeting (38%)
- Taking a job I don’t like that pays well (36%)
- Skipping others’ life events due to travel cost (36%)
- Skipped a meal (35%)
- Not getting a car (35%)
- Living in a less safe neighborhood for cheaper rent (35%)
- Not buying new clothes (32%)
- Living with my parents (29%)
Student debt is such a financial burden to some that many would be willing to do anything to erase it, including:
- Shave my head (51%)
- Walk to work for a month (49%)
- Never have caffeine again (40%)
- Relive high school over again (40%)
- No time off from work for a year (40%)
- Week in jail (39%)
Source:SWNS Digital