94% Of Gen Z & Millennial Women Worried About Paying Back College Debt
Today, CreditCards.com & national scholarship program, the 1,000 Dreams Fund released survey findings about Gen Z and Millennial women’s finances. Some alarming findings include:
- In the Dark on Debt: 34% of millennial women aren’t aware of how much credit card debt they have, and 40% are unaware of their current student loan debt load.
- Collegiate Concerns: 94% of respondents are worried about their ability to pay college debt back or they do not have enough money for common daily expenses such as food.
Additional Survey Findings Include:
The State of Gen Z & Millennial Women’s Student Loan Debt
- 67% have (or had) student loan debt
- Of those with student loan debt, 20% currently have between $5,001 – $10,000, 19% have between $10,001 – $25,000, 22% have between $25,001 – $50,000 and 12% have $50,001 or more
- 41% do not/did not receive any scholarships to help pay for their education
- For those respondents who have student loans, 94% of respondents are worried about their ability to pay them back
The State of Gen Z & Millennial Women’s Credit Card Debt
- 67% of 18-36 year-old women have at least one credit card and 79% of cardholders have credit card debt
- 61% of those with credit card debt worry about it at least occasionally, including 42% who said always or frequently
- The most popular answer for not having a credit card is “worried about getting into debt” (53%)