College graduates feel the need to escape student debt

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PROVO — According to the New York Post, OnePoll and Splash Financial released a survey questioning college graduates about their student debts.

The results showed multiple areas where the participants felt their lives were negatively impacted.

38 percent of respondents said a sacrifice they made to pay off student debt included serious budgeting.

Gillian Ponce, a senior at Brigham Young University, is currently budgeting tightly to pay off her student loan.

“Right now I’m a little bit tighter, just because I’m about to graduate, so I know that things are going to start changing once I hit that point,” she said. 

In the survey, 39 percent said their tight budgets exclude room for fun, especially for a vacation after graduation. 

Klarissa Wilkinson, a graduate student at BYU said, “We are trying to save up for it now instead of just waiting until after I graduate.”

Another question showed 32 percent save money by not shopping for new clothes or cars.

“That was something that my husband and I did have to discuss, but I think in the end that it will be worth it,” Wilkinson said. 

Splash Financial’s survey also included drastic measures. In fact, 51 percent of those surveyed said they would shave their head to eliminate their student debt. 40 percent said they would never have caffeine again and 39 percent said they would spend a week in jail…all to be debt-free.

When asked about going to jail, Wilkinson said, “Would I go to jail for a week? Maybe. If I wasn’t locked up with any crazy guys.” 

Ponce had different feelings, “At first I was like, ‘Oh yeah, I’d do that!’ and then I started thinking about it and I probably wouldn’t. I’d rather just pay it back.”

According to those in debt, they would risk a lot to not have to pay it back.

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