High Student Loan Debt Forces Borrowers to Delay Major Life Events, Study Finds

A recent Gallup and Lumina Foundation survey reveals that a significant majority of student loan borrowers have postponed key life milestones due to financial burdens.

• 71% of student loan borrowers reported delaying major life events such as buying a home, starting a business, or getting married due to their debt.
• Both high and low debt levels impact life decisions, with 98% of those owing over $60,000 and 63% with less than $10,000 in debt reporting delays.
• Men are more likely than women to report delays due to student loans, with 76% of men affected compared to 64% of women.
• The Biden administration has forgiven $153 billion in student loan debt, aiming to alleviate the financial strain on borrowers.
• Student loan debt continues to affect Americans' financial stability and life choices, from graduation to potential retirement.

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