Quantcast

Student-loan debt forces some to delay marriage, children

Published: Wednesday, April 18 2012 11:04 a.m. MDT

College graduates are choosing to delay getting married and having children to pay off their massive student-loan debt, according to the Wall Street Journal.

Mark DiOrio, Deseret News archives

Enlarge photo»

College graduates are choosing to delay getting married and having children to pay off their massive student-loan debt, according to the Wall Street Journal.

Jodi Romine received $74,000 in student loans to get a degree at Kent State University, a decision that has caused her to delay marriage, children, and a career, according to the article. She now has $900-a-month loan payments, which takes out 60 percent of her paycheck. Her fiancÉ loses 40 percent of his paycheck to student loans. Both work more than 60 hours a week but still can't afford to get married or have children.

"I'm just looking for some way to manage my finances," Romine told the Wall Street Journal.

Total outstanding student-loan debt in the U.S. surpassed $1 trillion in 2011, according to the federal Consumer Financial Protection Bureau, and it continues to increase as students fall behind on payments. Private student-loan borrowers are falling behind or defaulting on their payments at double the rate prior to the recession, Moody's Investors Service told the Wall Street Journal.

EMAIL: bbullock@desnews.com

Get The Deseret News Everywhere

Subscribe

Mobile

RSS