Most Americans feel student loan debt is too high
Bloomington, IL, United States (AHN) – Americans are becoming more aware of mounting student loan debt and the value of higher education. According to a new COUNTRY Financial survey, four in five Americans (81 percent) believe the expected average level of student loan debt, $29,000, is too high.
Rising tuition and uncertain employment prospects are likely fueling doubts about the fiscal value of college.
One in four (26 percent) respondents believe that with costs growing higher and an uncertain economy, a college education is not a good financial investment. This latest figure marks a 7 point increase from 2010.
Since 2008, those believing college is a good investment dropped from 81 percent to 58 percent.
“It’s easy to see why Americans are uncertain about college spending, especially since the national student loan debt is at an all-time high,” said Keith Brannan, vice president of financial security planning.
“However, college is a long-term investment and having a degree significantly increases your earning potential,” he went on to say. “That’s why it’s critical to have a plan in place to help you prepare to make that investment.”
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