In town hall meetings across the country, the president has listened to the concerns of Millennials who know the value of a college education but are struggling with a way to afford it. There are also the Millennials who have already earned their college degrees and have left campus with $29,400 in college debt (the national average based on 2012 graduates) and not many job prospects.
The younger group of Millennials is taking on more loan debt than their predecessors, and the older group of Millennials is still paying off the debt they acquired and trying to crawl up the economic ladder that is still broken from the recession years. College, it seems, is not as much of a sure thing as these young Americans believed it would be.
Millennials’ Souring Attitudes about College Costs
Understandably, this American age bracket is frustrated with both the cost and empty promises that accompany college graduation. The American Consumer Credit Counseling organization recently published findings to its study that found:
· 71 percent of college graduates would make different educational choices if they had truly understood the burden of repaying students loans.
· 57 percent of college graduates did not understand the student loan repayment process.
