{"id":4197,"date":"2017-09-18T15:05:05","date_gmt":"2017-09-18T15:05:05","guid":{"rendered":"https:\/\/genhq.com\/?p=4197"},"modified":"2022-08-27T10:25:31","modified_gmt":"2022-08-27T10:25:31","slug":"rising-student-debt-weighs-heavily-millennials","status":"publish","type":"post","link":"https:\/\/genhq.com\/rising-student-debt-weighs-heavily-millennials\/","title":{"rendered":"RISING STUDENT DEBT WEIGHS HEAVILY ON MILLENNIALS"},"content":{"rendered":"<p>One of the main problems facing recent graduates is the debt they\u2019re stuck with after school. According to a report by Experian, <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.cnbc.com\/2017\/08\/29\/student-loan-balances-jump-nearly-150-percent-in-a-decade.html?\" target=\"_blank\" rel=\"noopener\">college loan balances in the U.S. have jumped more than $833 billion to reach an all-time high of 1.4 trillion.<\/a><\/span> To break that down, the amount of students that owe over 50,000 has <strong>tripled<\/strong>.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-4198\" src=\"https:\/\/genhq.com\/wp-content\/uploads\/2017\/09\/STUDENT-DEBT.gif\" alt=\"\" width=\"870\" height=\"500\" \/><\/p>\n<p><span style=\"text-decoration: underline;\"><a href=\"\/millennials-dont-want-buy-baby-boomers-homes\/\" rel=\"noopener\">After purchasing a home,<\/a> <\/span>student loan debt is one of the most expensive debts a person can have. In fact, it appears many students are having buyer\u2019s remorse when it comes to using debt to pay for college. In a survey by Citizen\u2019s Bank, 57% of college students regret taking out as many loans as they did and 36% wouldn\u2019t have even gone to college if they understood the costs. That is a staggering number.<\/p>\n<p>Student loan debt can have major consequences. Millennials are <a href=\"\/millennial-entrepreneurship-trends-2017\/\" rel=\"noopener\">pushing back major life milestones because of their financial insecurities<\/a><\/p>\n<p>However, recent data shows that students are starting to manage their debt better and making more consistent payments.<\/p>\n<p>In the long run, higher education is generally considered worth the significant investment. Student with college and advanced degrees do tend to earn materially more over their lifetime. However, starting out with huge student loan debt is an anchor that can clearly take years\u2014if not decades\u2014for many young adults to overcome. The best advice we\u2019ve seen: take out the least amount of loans that you can and, if possible, attend a less expensive school that still offers a good education. While it may be too late for many Millennials to heed this advice our research into Gen Z shows that this generation is definitely seeking to find ways to complete their education with as little debt as possible.<\/p>\n<p><em>At The Center for Generational Kinetics, we turn Millennial and Gen Z trends into fuel for your sales, marketing, employment, and growth.<\/em><\/p>\n<p><span style=\"text-decoration: underline;\"><a href=\"\/contact\/\" rel=\"noopener\"><em>Contact us today<\/em><\/a><\/span><em>\u00a0to see how we can help you unlock new sales and bridge the generational divide with #Millennials and Gen Z.<\/em><\/p>\n<p><span style=\"text-decoration: underline;\"><a href=\"\/gen-z-2017\/\" rel=\"noopener\"><strong>And don\u2019t forget to click here to\u00a0<em>check out our new national Gen Z Study!\u00a0<\/em><\/strong><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the main problems facing recent graduates is the debt they\u2019re stuck with after school. According to a report by Experian, college loan balances in the U.S. have jumped more than $833 billion to reach an all-time high of 1.4 trillion. To break that down, the amount of students that owe over 50,000 has [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":4198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-4197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-millennials-aka-gen-y"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RISING STUDENT DEBT WEIGHS HEAVILY ON MILLENNIALS - The Center For Generational Kinetics<\/title>\n<meta name=\"description\" content=\"One of the main problems facing recent graduates is the debt they\u2019re stuck with after school. 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