"Student Loan Burden Keeps Gen Z from Home for the Holidays"

1 min read
Source: CNBC
"Student Loan Burden Keeps Gen Z from Home for the Holidays"
Photo: CNBC
TL;DR Summary

A recent survey by Credit Karma found that 32% of Gen Z Americans with student debt won't be able to afford to travel home for the holidays due to their student loan payments. More than 1 in 4 borrowers say their payments are making the holidays unaffordable altogether, and nearly 1 in 3 borrowers wish the holidays were canceled because of the cost. Many Gen Zers are relying on their parents to pay for their travel, but the majority plan to take on debt to get through the holiday season. The article suggests finding side hustles, utilizing credit card rewards, and prioritizing spending on travel if being with family is the top priority. Alternatively, individuals can find ways to have a special day on their own or with local loved ones if travel is not possible.

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