How Much Will Your Student Loans Cause You to Sacrifice?

Given the ever-rising cost of college these days, accumulating piles of debt is slowly becoming the norm for students from all types of economic backgrounds. The average Class of 2016 graduate, in fact, came away more than $37,000 in the hole and, all told, Americans owe over $1.45 trillion in college loans.

But while taking on student debt might seem like a necessary step on the road to a college degree, it's also a move that can hurt you big-time. In fact, millennials aged 20 to 26 are sacrificing or postponing a host of key financial milestones because of their high levels of debt. It's not surprising, then, that 23% of grads in this age group feel that their education will never end up being worth the amount of debt they took on. That's the sentiment expressed during a TD Ameritrade study, which also found that younger millennials are putting many aspects of their lives on hold because they owe too much after college.

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Source: Fool.com