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Your Take: Survey Shows Delay in Life Milestones for Recent Graduates

Posted By Jim On 06/08/2012 @ 7:15 am In Your Take | 7 Comments

A few months ago, the subject of a Your Take centered around which generation had the most debt [3] (prompted by an infographic from Experian). In looking at the infographic, and how the younger generations had much higher levels of debt, I thought about the impact of student loan debt. The results of a recent survey by the College Savings Foundation [4] showed that recent graduates are more likely to delay milestones of independence, such as getting married, having children and buying a house. When you are burdened with a significant amount of debt, it’s hard to get ahead and on with your life.

Highlights from the survey (recent graduate refers to someone who graduated in the last year):

  • 36% of recent graduates said they had to live with parents longer than expected
  • 40% of recent graduates were delaying when they would buy a house.
  • 19% of recent graduates were delaying when get married.
  • 21% of recent graduates were delaying when they would have children.
  • 70% of recent graduates were employed.

The survey discusses how these numbers compare with older graduates and in all cases the recent graduate numbers are higher, so it shows a trend that’s worsening, but I’m not surprised by it. My alma mater costs an eye popping $60,000 a year now and I graduated a scant ten years ago.

Next week, we’ll have a two part interview with Peter Mazareas, Chairman Emeritus of the College Savings Foundation. He shares a lot of good information about saving for college that I think anyone, from students to parents, will find extremely educational.

What do you think? Is college debt to blame? Or is it more about the economy? Or both?

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[3] generation had the most debt: http://www.bargaineering.com/articles/generation-debt.html

[4] recent survey by the College Savings Foundation: http://www.collegesavingsfoundation.org/pdf/GradsSurveyPressReleaseFinal5-23-12Updated.pdf

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