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Over 50 pc American teens believe student loan debt should be forgiven

College is the second largest expense we will have behind buying a house

Tuesday February 12, 2019 10:55 PM, ummid.com News Network

America Student Loan Debt

Colorado Springs: A new survey of 1,000 teens in the age groups of 13 to 17 years shows that more than half (51%) believe that the government or banks should forgive the $1.5 trillion in student loan debt held by Americans.

One-in-five (20%) of respondents said student loan debt should not be forgiven, while nearly a third (29%) said they "Don't Know" or are "Not Sure", the survey conducted by research consortium Engine for Junior Achievement (JA) showed.

"While there's been much discussion in the news about debt-free college, counting on college debt being forgiven in the near future is probably not the best approach when it comes to planning for college today," said Jack Kosakowski, President and CEO of Junior Achievement USA.

"For many of us, college is the second largest expense we will have behind buying a house. It's important that we equip our young people with the information necessary to make informed choices about paying for higher education", Kosakowski said.

May 1st is considered "National College Decision Day", and between now and then many high school students are receiving acceptance letters from colleges and will be making a decision on which one to attend.

Junior Achievement's programs focus on financial literacy, in addition to work readiness and entrepreneurship, to better prepare young people to make informed decisions about money-related issues, such as which post-secondary education choices to consider given the potential income they hope to receive with their preferred career path.

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