Student Loan Problems: One Third of Millennials Regret Going to College
By Halah Touryalai
Here’s an indication of how burdensome student loans have become: About one-third of millennials say they would have been better off working, instead of going to college and paying tuition.
That’s a according to a new Wells Fargo WFC +1.57% study which surveyed 1,414 millennials between the ages of 22 and 32. More than half of them financed their education through student loans, and many say the if they had $10,000 the “first thing” they’d do is pay down their student loan or credit card debt.
That’s no surprise when you consider student borrowing topped the $100 billion threshold for the first time in 2010, and total outstanding loans exceeded $1 trillion for the first time in 2011. Student loan debt now exceeds credit card debt in the U.S. which stands at about $798 billion. READ MORE HERE