Half the Millennials shouldering student loan debt are so desperate to shed the load they would give up voting in the next two presidential cycles to even the balance sheet, a survey showed.
In the Credible survey, however, only 13 percent would give up texting for a year to be debt-free.
Here are the highlights of what respondents said they would be willing to give up for debt forgiveness:
- 49.8 percent said they would give up their right to vote in the next two presidential elections.
- 43.6 percent were willing to give up services like Uber or Lyft.
- 42.4 percent would also give up traveling outside of the country for five years.
- 27 percent said they would be willing to move in with their parents for five years.
- 13.2 percent would give up texting and any mobile messaging equivalent for a year.
- 8.2 percent said they would prefer to just keep on paying down the debt.
According to the Department of Education, 42.3 million Americans are paying back $1.33 trillion in federal student loan debt, and lenders are collecting another $64 billion in private student loans.
A Federal Reserve survey estimates the median student loan debt balance at $17,000, with monthly payments of $222.
The survey of 500 respondents was conducted Sept. 7-8; no margin of polling error was reported.
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