Student Loan Debt Delays Marriage

We all know that if you have student loan debt that you delay other aspects of savings and retiring until debt is paid off. However, there’s a new report out that says it can delay your marriage as well.

Even marriage has been put on hold, with 15% of respondents saying they delayed tying the knot because of student loan debt.

The majority of borrowers said they didn’t anticipate having such a difficult time repaying their loans, and 60% feel some amount of regret about the decision to fund their education this way.

“[Graduates in debt] start out with an anchor that slows their progression toward future goals,” Ernie Almonte, chair of the AICPA’s National CPA Financial Literacy Commission, said in a statement.

http://money.cnn.com/2013/05/09/pf/college/student-loan-debt/index.html?hpt=hp_t3

 

Adam Taufique

Adam Taufique is a founding member of Qur'an Weekly and Debt Free Muslims. He is a regular khateeb in his community and has served in Masjids from being a weekend school teacher to youth coordinator. You can follow him on Google+ or on Twitter @adamtaufique.

2 Comments

  1. Osama, Ryyan
    November 12, 2013

    Asalamolaykum wa rahmat Allahi wabarakato
    we were surprised to find out that 15% of surveyed students that have graduated said that they cant get married because of their never ending student loans! Not only that but 60% of people feel regret about the decision to fund their education this way. None of them expected it to be this difficult to pay off their loans!

    JAK, salam

    Reply
  2. Radiyah & Minal
    November 12, 2013

    it is not surprising that student loans stop you from getting married because the student won’t be able to financially support his future wife and family. Knowing that 60% of student borrowers regret their decision is unexpected because you would think more students would regret it for many reasons. It is also understandable because it is stressful having a loan on your back that is stopping you from getting married.

    Reply

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