WASHINGTON, D.C. — Seventy-one percent of all currently enrolled college students or previously enrolled students who stopped out of their program before completing it say they have delayed at least one major life event because of their student loans.
The most commonly delayed event is purchasing a home, named by 29% of borrowers, followed closely by buying a car (28%), moving out of their parents’ home (22%) and starting their own business (20%). Fifteen percent of these borrowers also report they have delayed having children because of their student loans, and 13% have delayed marriage.
Among previously enrolled students, 35% say their student loans have kept them from reenrolling in a postsecondary program and finishing their degree, exceeding the percentage who have delayed buying a home, buying a car or other events.
The latest results are from the Lumina Foundation-Gallup 2024 State of Higher Education Study, conducted Oct. 9-Nov. 16, 2023, via a web survey with 14,032 current and prospective college students. This includes 6,015 students enrolled in a post-high school education program (certificate, associate or bachelor’s degree), 5,012 adults not currently enrolled with […]
Living in their parents’ home (=~no expenses), having a certificate, BA, or only some of higher ed… expecting to buy a home? Bring up a family? Come on.
I have not yet seen recognition, that “living in their parents’ home, virtually no expenses…”, has contributed to lowering the wages of ALL workers, + age discrimination: when you can hire a 20-something with practically no expenses…you can pay them much less, & get rid of “older” workers…
That said, as my sole support, I was so determined to avoid student debt (yes, a societal wrong), that I worked & got my MA full-time…somewhat brutal