New survey data, compiled by iontuition’s partner, Credit Sesame, sheds light on the ways in which tuition and student loan debt are shifting attitudes toward college. A poll of 500 college graduates found that over 25 percent of Millennial survey respondents attended a university where the tuition was $25k or more, compared to only 6 percent of Gen X. By contrast, half of Gen X respondents paid less than $10k a year at their university.
With rising tuition and looming debt, 33 percent of Millennials admitted to choosing a major that would result in a higher salary and make them better equipped to pay off student loans, compared to just 14 percent of Gen X. And yet, 76 percent of Millennials still believe college is worth the steep price tag, compared to 68 percent of Gen X.
“Without a doubt, college is one of the biggest budgetary challenges families face,” said Balaji “Raj” Rajan, CEO of Ceannate Corp. “Our efforts will continue to create transparency into post-secondary education costs and provide tools to help students and families manage repayment after they graduate.”
iontuition.com also offers a student loan management dashboard and a financial literacy library that are completely mobile optimized. A loan payment engine and collaborative social network for students and their families will be added to the website soon.
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