According to the findings, 52% of 1,000 millennials ages 33 to 40 surveyed say their loans weren't worth it

Two-Thirds of Older Millennials Are Still Paying Off Student Debt After 10 Years

https://www.gobankingrates.com/loans/student/over-two-thirds-of-older-millennials-are-still-paying-off-student-debt-after-10-years-more-than-half-say-it-wasnt-worth-it/

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Nobody00 · F

I remember an article years ago this girl studied “women studies” or some kind of feminist stuff. She got her bachelor s degree owing $500 thousand then said it was worthless she couldn’t find a job and wanted her money back from NYU

Picklebobble2 · 56-60, M

Student loans are a con.
They make kids believe a college life is essential; rack them up with debt and then the government owns you until you pay it off with interest !

So you may graduate with a degree in media science but the chances of you actually working in that field ten years after graduation are unlikely

Bushranger · 70-79, M

Over here, the repayments are a percentage of your income. The maximum rate is 10% on an income of $136,740 or more. Below $46,620 there's no repayment.

How does this compare with the US system?

LoveTriumphsOverHate · 36-40, M

@Bushranger Similar. Payments are based on income. The government allows individuals who meet the income threshold to defer payments but the interest continues. So, if an individual has a low income, payments are 0, but the loan doesn't go away. The interest açcumulates.

Bushranger · 70-79, M

@LoveTriumphsOverHate We don't have to pay interest, but the loan is indexed with the cost of living. Last year it was 1.8%. The highest listed was 2.9% in 2012 (https://www.ato.gov.au/Rates/Study-and-training-loan-indexation-rates/).

The debt doesn't go away, but at least there's no interest.

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PrincessVelvet · F

Try to look at it as in investment. You put in a lot of money right now for a long term benefit.

LoveTriumphsOverHate · 36-40, M

@PrincessVelvet 🙄 The point is many graduates are not getting their dream jobs and in fact, many of them are working for firms that has nothing to do with their degree. They're paying back 2 decades worth of debt for a worthless degree.

MrBrownstone · 46-50, M

The best way to get rich is by starting off in debt?

MURD3RM0NK3Y · 26-30, M

I still haven't paid my loans

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