The current $1.5 trillion in student loan debt is holding Americans back.
A new Bankrate survey finds that most Americans who have had student debt have delayed important financial decisions and milestones because of it — and some even regret taking out student loans in the first place.
“There’s no question about the general value of education. A college degree typically translates to greater chances of being employed,” says Mark Hamrick, senior economic analyst and Washington bureau chief at Bankrate. “Student loan debt is, in a sense, the other side of the coin which can create a tremendous burden on students and, in some cases, their families.”