Student Loan Borrowers Regret Their Choices, Report Finds

Student Loan Borrowers Regret Their Choices, Report Finds

(TargetLiberty.org) – A few years at college is considered an essential rite of passage for the American middle class, but a new study shows a majority of students regret taking out a loan to finance their education. And, almost half wish they hadn’t bothered with college at all.

New research by personal finance experts Ramsey Solutions shows that 53% of students who took out a loan regret it, and 71% say they wish they’d been better informed about what the debt would mean before signing up for it. Remarkably, 43% say they regret even going to college.

The cost of a college education in the US has been ballooning for years – since 1989 average tuition fees have risen nearly eight times faster than wages. Now, 47% of those who took out a student loan say that debt has forced them to delay other major life events, including buying a home, marriage and parenthood. Is it time to ask if degrees are that important?

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