Survey: 70% Millennials Say Student Debt Crisis Is A Bigger Threat Than North Korea
- 7 years ago
There are many major issues currently facing the United States, and LendEDU, an online marketplace for student loans, recently asked millennials which ones they find the most menacing.
There are many major issues currently facing the United States, and LendEDU, an online marketplace for student loans, recently asked millennials which ones they find the most menacing.
When prompted to pick which problem facing the U.S. is more threatening, North Korea or student loans, just under 70% opted for college debt.
Notably, the survey was conducted between June 2 and June 14, weeks before North Korea announced it had tested an intercontinental ballistic missile capable of reaching the U.S.
Prior to the survey, it had performed numerous trials of smaller missiles and threatened to reduce U.S. troops in South Korea “to ashes.”
As for student loans, the collective educational loan total among the roughly 43.3 million borrowers stands at $1.41 trillion.
On average, people borrow about $28,400 and 11.8% of loan recipients go into default.
According to LendEDU, “the $1.41 trillion in outstanding student loan debt is still a ways off from the $10.6 trillion in mortgage debt during the peak of the Great Recession. However, student debt in the U.S. is now the second largest class of debt, above credit cards.”
For as much concern as millennials have about their student debt, there are problems they see as being much more serious, though, admittedly, not by a significant degree.
For example, LendEDU notes that "Millennials were nearly split down the middle in terms of deciding if global warming or the student loan crisis is the biggest problem facing the U.S." 51.5% said global warming is definitely a bigger deal.
There are many major issues currently facing the United States, and LendEDU, an online marketplace for student loans, recently asked millennials which ones they find the most menacing.
When prompted to pick which problem facing the U.S. is more threatening, North Korea or student loans, just under 70% opted for college debt.
Notably, the survey was conducted between June 2 and June 14, weeks before North Korea announced it had tested an intercontinental ballistic missile capable of reaching the U.S.
Prior to the survey, it had performed numerous trials of smaller missiles and threatened to reduce U.S. troops in South Korea “to ashes.”
As for student loans, the collective educational loan total among the roughly 43.3 million borrowers stands at $1.41 trillion.
On average, people borrow about $28,400 and 11.8% of loan recipients go into default.
According to LendEDU, “the $1.41 trillion in outstanding student loan debt is still a ways off from the $10.6 trillion in mortgage debt during the peak of the Great Recession. However, student debt in the U.S. is now the second largest class of debt, above credit cards.”
For as much concern as millennials have about their student debt, there are problems they see as being much more serious, though, admittedly, not by a significant degree.
For example, LendEDU notes that "Millennials were nearly split down the middle in terms of deciding if global warming or the student loan crisis is the biggest problem facing the U.S." 51.5% said global warming is definitely a bigger deal.