Research Roundup: Survey Finds 4 in 5 Graduates Consider Student Loan Debt a Life Sentence

A survey by OnePoll, conducted on behalf of Splash Financial, revealed that 89% of respondents view student loan debt as a significant financial burden, with many considering drastic measures to alleviate it.

The study surveyed 1,000 undergraduate and 1,000 postgraduate degree holders, revealing that 47% of people with student loans consider it worrying or frustrating. Of those with debt, 4 in 5 consider it a life sentence.

Taking Drastic Measures to Save Money

Degree holders burdened with debt have resorted to drastic measures to manage expenses. Thirty-nine percent of respondents have forgone social events, while an equal percentage have taken on side jobs. Additionally, 36% have accepted undesirable yet high-paying jobs. The same proportion has missed significant life events, such as weddings or births, to avoid travel expenses. Thirty-five percent have skipped meals, and 35% have chosen to reside in less secure neighborhoods to reduce housing costs.

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