AABP EP Awards 728x90

Principal survey: One-third of workers regret borrowing for college

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

A new study from Principal Financial Group found that workers who borrowed for college may be increasingly regretting the decision. One-third of U.S. workers regret having taken out student loans, and an equal number say their loans have prevented them from achieving their financial goals, according to the latestPrincipal Financial Well-Being Index. And according to the study, just 23 percent of employees say they’re saving for their children’s college education, and just over half of those who are saving are satisfied with their level of saving. The online survey was conducted for Principal by Harris Poll in February among 1,111 workers. Thirty-seven million Americans have amassed student debt totaling $1.2 trillion, and 69 percent of 2013 graduates had student loan debt, with an average of $28,400 per borrower. For some tips for parents and students on how best to handle paying for college or graduate school, click here.