Student debt delays spending, saving, marriage
Many borrowers are making financial sacrifices due to growing amounts of student loan debt.
May 10th, 2013
05:00 AM ET

Student debt delays spending, saving, marriage

By Blake Ellis, CNNMoney

New York (CNNMoney) - Student loan debt is leading some borrowers to put off buying a home, saving for retirement or even getting hitched - and many now regret taking out the loans in the first place.

About three-quarters of student loan borrowers surveyed said they - or their children - have been forced to make sacrifices in order to keep up with student loan payments, according to a survey from the American Institute of CPAs.Forty-one percent of the more than 200 people surveyed said they have delayed saving for retirement, 40% have put off buying cars, while 29% have postponed home purchases.

Even marriage has been put on hold, with 15% of respondents saying they delayed tying the knot because of student loan debt.

The majority of borrowers said they didn't anticipate having such a difficult time repaying their loans, and 60% feel some amount of regret about the decision to fund their education this way.

"[Graduates in debt] start out with an anchor that slows their progression toward future goals," Ernie Almonte, chair of the AICPA's National CPA Financial Literacy Commission, said in a statement.

Read the full story from CNNMoney

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Filed under: CNNMoney • College • Economy • Financial aid • Students
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    May 19, 2013 at 10:59 pm |
  2. eduardcao

    my grandfather was a staff officer of Guomin party shanghai branch before year of 1949. (this year that guomin party lose the civil war retreated to taiwan.)
    grandfather was sent to jail in several years later, and died in the jail said reason of drunk. grandmother was die in a unnecessary surgical operation. Dr named wang xinsheng shanghai the 4th people's hospital. she hadn't a deadly disease. dr had acknowledged what he done.

    the family controlled by government. mother actually worked for police( apparently she was a worker in a factory) and married father to control him and the family. i 'm watched 24 hours as well. and have poisoned diet, (actually poisoned environment). until 1 year ago, i realized it. they could poison everything, even water and air, clothing( clothing poison would be absorbed by skin.)

    I was lived in a big trap in past 40years. when i realized my mother and brother were being controlled me, I was almost broken. and I understand reason of the illness, disease, and pains, weakness, skinny, problems on my body. I was a healthy boy, in age of 8, I remember I jumping rope 108 times per minute, in my class was number 2, and table tennis game, classmates were afraid of me.
    then they said me has mental problem need medicine. in china, a lot of people are sent to mental disease hospital for only reason that be against government. they are washing people. 

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    May 15, 2013 at 7:21 pm |