Tags: millennials | student | debt | forgiven

Millennials' Student Debt Will Be Forgiven, Many of Them Believe

By    |   Wednesday, 12 Nov 2014 04:08 PM

About one in four millennials think their student debt will ultimately be forgiven, according to a report called Millennials & College Planning, released Wednesday by Junior Achievement and PwC US.

"It's a scary statistic," said Jack Kosakowski, president of Junior Achievement, according to CNBC.

Average student debt accumulation for 2012 graduates was $26,885, CNBC said. Many public sector employees are eligible for student loan repayment benefits, according to the Consumer Financial Protection Bureau.

The study, which was conducted by New York-based research firm YPulse, also found that:
• 21 percent of millennials believe that student loans are still a good investment.
• 60 percent of millennials said financial aid is a deciding factor in their school choice.
• 21 percent of millennials say college tuition and loans is their family's main financial problem.

“Financial commitments can be made in a vacuum, but ultimately play themselves out in life-altering ways," Shannon Schuyler, PwC's Corporate Responsibility Leader, said in a statement. "Financial aid, school loans, and borrowing from family are all viable and responsible actions, but if the details are not thoroughly understood, then the step to advanced education can be economically detrimental.”

Twitter users expressed mixed reactions.







Related Stories:

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
TheWire
About one in four millennials think their student debt will ultimately be forgiven, according to a report called Millennials & College Planning, released Wednesday by Junior Achievement and PwC US.
millennials, student, debt, forgiven
295
2014-08-12
Wednesday, 12 Nov 2014 04:08 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved