The current $1.5 trillion in student loan debt is holding Americans back.
A new Bankrate survey finds that most Americans who have had student debt have delayed important financial decisions and milestones because of it — and some even regret taking out student loans in the first place.
"There's no question about the general value of education. A college degree typically translates to greater chances of being employed," says Mark Hamrick, senior economic analyst and Washington bureau chief at Bankrate. "Student loan debt is, in a sense, the other side of the coin which can create a tremendous burden on students and, in some cases, their families."
The study was conducted Feb. 6-11 among a total sample size of 3,885 U.S. adults.
In total, 31 percent of Americans say they currently have or have had student loan debt stemming from their own education. An additional 13 percent of American adults financed another family member's school expenses through student loans...