Student Loan Debt Influences Graduates’ Views on Education Value

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Study loan
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Student Loan Debt Influences Graduates Views on
Education Value
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• Gallup and Purdue University findings in a second
  annual study show that graduates surveyed place
  less value on their education when they have
  higher student loan debt and delay major
  purchases or starting a business.
• High student loan debt continues to influence
  college graduates views on the value of their
  education, according to the latest Gallup-Purdue
  Index, created through a partnership between
  Gallup and Purdue University.
• According to the report, The Relationship
  between Student Debt Experiences and Perceptions
  of College Worth, 63 percent of graduates who
  completed their education between 2006 and 2015
  say they took out a student loan. The median
  amount for the graduates loans is 30,000.

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• Overall, 35 percent of recent graduates took out
  loans totalling more than 25,000, which is the
  level at which debt burden appears to have a more
  serious impact on graduates lives, according to
  the report.
• The percentage of graduates who strongly agree
  that their education was worth the expense
  declines significantly from 50 percent to 38
  percent among those who graduated between 2006
  and 2015, according to the report.
• Among recent graduates with a student loan of any
  amount, 33 percent strongly agree their education
  was worth the expense, it states.
• According to the report, the more student debt a
  graduate has, the less likely they are to agree
  their education was worth the cost.

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• A closer look reveals that strong agreement
  differs only modestly between recent graduates
  who took out new debt (49 percent) and those who
  took out 25,000 or less (43 percent), but there
  is a sharper drop to 30 percent among graduates
  who took out between 25,001 and 50,000. Those
  who took out more than 50,000 in debt are just
  as likely to strongly disagree that their
  education was worth the cost (18) percent as they
  are to strongly agree (18 percent.)
• Given that higher education has become one of
  the largest financial investments a person will
  make over their lifetime, its a bit alarming
  that only have of all graduates strongly agree
  that their education was worth the cost, said
  Brandon Busteed, Gallups executive director for
  education and workforce development in the news
  release.

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• The researchers also found a connection between
  student loan debt and graduates plans for
  additional training or education as well as
  delaying major purchases.
• Forty-eight percent of graduates with any amount
  of student loan debt have delayed postgraduate
  studies because of their debt, according to the
  report. Fifty-six percent of graduates with debt
  of more than 25,001 delay additional education.
• Additionally, 36 percent of graduates reported
  delaying buying a home due to their student loan
  debt. Thirty-three percent delayed buying a car
  and 19 percent of recent graduates delay starting
  their own business. Among graduates with debt of
  more than 25,001, 25 percent delay starting
  their own business, according to the report.

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• The comprehensive national study includes
  research on more than 60,000 college graduates
  over two years to show how high study loan debt
  influences their views on their education and
  post-graduation plans, according to a news
  release from Purdue University.
• Gallup and Purdue University launched the study
  in 2014 as a response to a call for increased
  accountability in higher education. It will be
  released each year through 2018, according to the
  news release.
• Source http//www.acainternational.org/creditors
  -report-student-loan-debt-influences-graduates-vie
  ws-on-education-value-37074.aspx

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