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Report: 42 Percent of Millennials Regret Taking Loans for College

Report: 42 Percent of Millennials Regret Taking Loans for College

“a much higher percentage than Baby Boomers who were polled”

This is one of the reasons so many young people like candidates like Bernie Sanders. They believe their debt can be erased by a politician.

The Blaze reports:

Here’s the stunning percentage of Millennials who regret taking a loan for college

A new poll shows the stunning percentage of Millennials who regret taking a loan out in order to attend college.

The Business Insider/Morning Consult poll says that four out of every ten of indebted Millennials regret going to college: 42 percent.

56 percent of Millennials said it was worth incurring a debt load to go college, with only 2 percent answering that they don’t know.

That is a much higher percentage than Baby Boomers who were polled – 27 percent said college was not worth the debt load, while 68 percent said it was worth it.

Student debt has become a key political issue as some Democrats have called for the government to make college free, and others want to forgive the mounting debt that many say are crippling them from obtaining success.

The poll shows that among those who thought that college was worth attending, 64 percent had already paid off their loans, and 48 percent were still paying off their loans.

The total student loan debt has been estimated at about $1.6 trillion.

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Comments

healthguyfsu | April 16, 2019 at 8:32 am

I’m pretty sure Bernie has campaigned on free college not erasure of student loans.

These people would be the most screwed in a Bernie plan. Don’t get free college and pay the highest taxes to subsidize those after themselves.

The Friendly Grizzly | April 17, 2019 at 8:24 am

I’m a boomer. Back in my college days, there were FAR fewer nonsense courses and nonsense courses of studies. Black Studies and Chicano Studies departments were just getting started. VERY little about “gender” setudies, nothing about [homosexual] studies.

In my very limited observation, the ones taking out loans were majoring in physics, pre-law, business-related majors, or some other science.

amatuerwrangler | April 17, 2019 at 10:29 am

I pre-date Griz by a bit. In CA you could cover all the tuition-fees-books for for four years with the price (MSRP) of a decent car (DeSoto, Packard, Pontiac). In the schools with ROTC programs, if you qualified for it, you got your last 2 years covered, and a job upon graduation. Whatta deal.

I would like to see the regret-no regret, paid off-still owe groups sorted by major. We might get some interesting information.

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