Seventy-six percent of respondents said that student loans were extremely or very important in allowing them to continue their education after high school. Sixty-six percent of borrowers said that while repaying loans is unpleasant, the benefits are worth it. Average total debt has increased significantly since the last Nellie Mae study in 1991, but the average has been pulled up by a few borrowers, primarily graduate students, with very high debt. Some borrowers reported that they had delayed certain activities because of their student loan payments, and these percentages have increased since 1991.
Car ownership does, in fact, appear to be slightly affected by debt levels.
But this is not the case for home ownership, which is determined by income, age, living with a spouse or partner, and the presence of children. Similarly, debt levels have no measurable impact on whether or not borrowers are married or have children. Non-white students who did not complete a degree were significantly more likely than white students to say that loans had prevented them from staying in school. However, there is no significant correlation between debt levels and responses to the question about importance of loans in preventing students from staying in school. However, Pell Grant recipients do not report feeling significantly more burdened than other borrowers by student loan repayment.