Almost half of millennials (46.5%) currently have student loans and more than 60% say that this debt impacts their spending decisions. Inman staffer Kimberly Manning takes a look at a recent survey conducted by LendingTree which shows that 63.3% of millennials graduated or will graduate with student debt.
The report from the site shows that 45.31% of millennials mentioned buying a home as one of the financial decisions that is put on hold due to this debt. The report listed the cities where millennials have the most student debt:
Broken down by city, Boston, Irvine, California, and San Francisco were the top three cities with the highest student financial debt. Boston millennials with a degree had an average $43,102.16 in student debt, Irvine residents had an average $42,490.77 and San Francisco students had an average $39,963.43 in student debt, the report shows.