Explores Why More Than Half of Millennials Say Their Student Loan Debt Wasn’t Worth It

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Student debt can seem overwhelming, so much so that in a recent study, 36% of millennials say their student debt was not worth it. Resolvly’s debt resolution experts share a proactive avenue for those struggling with stifling student debt.

Resolutely, a debt resolution lawyer referral service, delves deeper into the question of why so many millennials regret taking a student loan and managing debt.

The number of millennials claiming that their student loan debt was not worth it is revealed in a recent study showing that the amount to add up to 36%.

Older millennials, or middle-aged millennials, turn 40 in 2021. These pioneering millennials faced adulthood during the 2008 financial crisis, which is why Millennials are not the golden generation but rather student debt. generation. The reasons that contributed to such a title which fell into place due to the 2008 financial crisis were slow salary growth, rising college costs, increasing cuts in education funding. .

The Harris Poll conducted a survey for CNBC Make It that included 1,000 American adults between the ages of 33 and 40. The survey found that the average student loan taken out to pay for higher education was $ 21,880. Only 32% of these borrowers have fully repaid their student debt. The majority of older millennials, 68%, continue to pay off their student loans after ten years or more.

Older millennials speaking out on this are testament to the constant battle of paying off a large student loan for a long time to come. Individuals express the lack of security, comfort and ease for the future that comes with the burden of student debt. The real frustration arises when the available jobs don’t match a degree or are close to providing enough income to cover the cost of living on top of the monthly student loan payments.

Comparing the oldest to the youngest, the Federal Student Aid Office of the US Department of Labor provides Age Wave data calculations that reflect the average American aged 18 to 34 with student loan debt of $ 36,888. .

Reddit co-founder Alexis Ohanian has openly questioned whether college fees are worth it. Grant Cardone, a self-made millionaire, said not everyone should go to college. James Altucher, an author, claimed that a degree lacks meaning in many scenarios.

The good news is that older millennials with drowning student debt aren’t left in utter despair, thanks to organizations like Resolvly. The Florida Bar-approved company helps those who need to find a debt settlement from unsecured debt such as private student loans through its lawyer referral service. Works with people in debt across the country and connects clients with lawyers specializing in debt resolution.

To schedule a free consultation with Resolvly LLC or for more information about their services, see http://www.resolvly.com, or call the toll-free number (866) 955-5047.

About Resolvly

Resolvly is a Florida Bar-approved attorney referral service that helps clients across the country connect with debt resolution attorneys. Founded in 2015, the Boca Raton-based company has become an industry leader in helping thousands of Americans find the right legal solution to reduce or eliminate their unsecured debt. Resolvly helps with credit card debt, private student loans, business debt, medical bills, and vehicle repossession.

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Company Name: Resolvly LLC
Contact person: Media relations
E-mail: Send an email
Call: 866-955-5047
City: Boca Raton
State: Florida
Country: United States
Website: https://resolvly.com/

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