​Student Loan Debt: What Would Millennials Do for Debt Forgiveness? It May Surprise You! by Donna John

Money Parenting
6 years ago

​Student Loan Debt: What Would Millennials Do for Debt Forgiveness? It May Surprise You!

Student loan debt is no fun. Period. As a mom of three kids who all have student loan debt, my first words to you if you have young kids is to start a college savings account now. According to the U.S. Department of Education, 42.3 million Americans owe $1.33 trillion in federal student loan debt. Credible.com conducted a survey to see what people would be willing to do to have their student loans forgiven. Here’s what the survey participants (ages 18 to 34) would be willing to give up:

  • 49.8 percent would give up their right to vote for the next two presidential elections to have student loan debt forgiven
  • 43.6 percent would give up Uber or Lyft to get debt forgiveness
  • 42.4 percent would give up international travel for five years for a clean student loan bill
  • 27 percent would move in with their parents for five years to tear up that student loan statement
  • 13.2 percent would give up texting for a year to have their debt erased
  • 8.2 percent said they would do none of the above and keep their student loan debt

Read more about the student loan forgiveness survey via Credible.

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Alex Bryant
Wow! Thanks for the insightful tips, Donna John!
Donna John
Pretty interesting, huh? Depending on how much my student loans were for, would give up texting for a year. Kids need to think long-term. :-) Alex Bryant
aryan kumar
Student loan debt is a significant burden for many millennials, as highlighted by this eye-opening survey. It's striking to see the lengths some are willing to go for debt forgiveness, from giving up voting rights to sacrificing international travel. This serves as a reminder of the urgent need for solutions to alleviate the student debt crisis.

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