Student loan debt is keeping young people from pursuing other financial goals. A recent Bankrate report found that 74% of Gen Z and 68% of Millennials who have student loans have delayed a major financial decision due to their debt, which is higher than any other generation before them. Nearly one-third of Gen Z and Millennials overall say they have delayed saving for emergencies, 26% say they have put off saving for retirement, and 24% say they have delayed paying off other debt, while 23% have put off buying a house. Additionally, 23% of Gen Z and 19% of Millennials say they have put off having children because of their student debt, and 18% of Gen Z and 15% of Millennials say they have delayed marriage. YPulse’s education research shows 32% of graduated college students paid for their education via loans, and being debt free is one of Gen Z and Millennials top financial goals this year. (CBS News, CNBC)
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