A new poll shows the stunning percentage of Millennials who regret taking a loan out in order to attend college. The Business I...
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.
Despite that attitude about college and the ballooning student debt, experts say Millennials don't behave much differently from their forebears.
"Right now, millennials are in their 20s and 30s, and the types of financial decisions they're making are typical of someone in their 20s and 30s," said NerdWallet expert Sara Rathner.
"In 40 years," she explained, "millennials will probably be in much the same place as baby boomers are today."
of course they regret it. because they cannot possibly ever pay it back.
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