ith thanks to Aim\u00e9e Bennett (APR, Principal, Fagan Business Communications, Inc.) for this resource<\/em><\/p>\nKey findings<\/strong><\/span><\/p>\n1)\u00a0 Impact of student loan debt on stress, day-to-day life (college attendees\/grads)<\/strong><\/p>\n\n- 67% of respondents said the cost of their college education has caused them to feel overwhelmed.<\/li>\n
- 47% said their college education cost has contributed to mental or emotional health issues (e.g., anxiety, depression).<\/li>\n
- 38% said the cost has caused them to lose sleep at night.<\/li>\n
- 49% said the cost of their college education has impacted their choice of where to live.<\/li>\n
- 42% said it impacted their choice of careers or jobs.<\/li>\n<\/ul>\n
2)\u00a0 Impact of student loan debt on finances (college attendees\/grads)<\/strong><\/p>\n\n- 59% respondents said they can\u2019t save any money because of the cost of their college education.<\/li>\n
- 45% said they can\u2019t go on vacation because of college costs.<\/li>\n
- 32% said they are carrying credit card debt because of college costs.<\/li>\n
- 48% said they have been unable to pay off (or down), or have delayed paying off (or down), other types of debt because of the cost of college.<\/li>\n
- 47% have been unable to, or have delayed contributing to, saving for emergencies.<\/li>\n
- 43% believe their college education cost has impacted their retirement age.<\/li>\n<\/ul>\n
3) Willing to make sacrifices to eliminate student loan debt (college attendees\/grads)<\/strong><\/p>\n\n- 52% of respondents said they would take a job with a salary less than what they expected if the company paid off their student debt.<\/li>\n
- 27% said they would be willing to commit a maximum of five years to a company if they paid off their student loans; 28% said they would be willing to commit more than five years.<\/li>\n<\/ul>\n
4) Impact of child\u2019s student loan debt on parents<\/strong><\/p>\n\n- 20% of parents said their child\u2019s college education cost has contributed to mental or emotional health issues (e.g., anxiety, depression) of their own.<\/li>\n
- 20% of parents said their child\u2019s college education cost has caused them to lose sleep at night.<\/li>\n
- 40% of parents believe their child\u2019s college education cost has impacted their\u00a0retirement age; 41% said the cost has impacted their\u00a0overall retirement plan.<\/strong><\/li>\n
- 42% said they had given up saving for retirement; 42% gave up going on vacation.<\/li>\n<\/ul>\n
\u00a0<\/strong><\/p>\nAdditional\u00a0survey\u00a0findings<\/strong><\/span><\/p>\n1) Student loan debt reforms<\/strong><\/p>\n\n- 54% of students said they feel that student loan debt should be forgiven by the federal government.<\/li>\n
- 63% of students, and 52% of parents, said they would support expanding student loan forgiveness for those in public service (e.g., teachers, government employees, first responders, military service).<\/li>\n
- 54% of students, and 42% of parents, said they would support free or subsidized tuition for low-income households.<\/li>\n
- 53% of students, and 50% of parents, said they would support tax breaks for companies that offer student-loan repayment programs.<\/li>\n<\/ul>\n
2) Expected length of time to pay off student loan debt<\/strong><\/p>\n3) Lack of knowledge of loan terms, types \u2013 among both college attendees\/grads and parents<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"A Financial Crisis — Student Loan Debt — from freedomdebtrelief.com by Micahel Micheletti; with thanks to Aim\u00e9e Bennett (APR, Principal, Fagan Business Communications, Inc.) for this resource Key findings 1)\u00a0 Impact of student loan debt on stress, day-to-day life (college attendees\/grads) 67% of respondents said the cost of their college education has caused them to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[113,174,115,302,112,200,57,159,143,343,37,36,35,3,560,436,480,310,66,212,118,321,214,367],"tags":[],"class_list":["post-68146","post","type-post","status-publish","format-standard","hentry","category-21st-century","category-career-development","category-colleges","category-community-colleges","category-corporate-business-world","category-corporate-universities","category-cost-of-getting-a-degree","category-dangers-of-the-status-quo","category-disruption","category-education","category-future","category-future-of-higher-education","category-game-changing-environment","category-higher-education","category-parents-guardians","category-reinvent","category-society","category-staying-relevant","category-student-related","category-surviving","category-training-corporate-universities","category-united-states","category-universities","category-vendors"],"_links":{"self":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/68146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/comments?post=68146"}],"version-history":[{"count":5,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/68146\/revisions"}],"predecessor-version":[{"id":68153,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/68146\/revisions\/68153"}],"wp:attachment":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/media?parent=68146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/categories?post=68146"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/tags?post=68146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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