Student loan debt is a growing and an impactful issue in the United States. Today, 69% of graduates leave campus with student debt. And on average, borrowers are asked to repay about $28,000 in student debt, before interest. As a whole, there are now more than 43 million Americans working to repay an estimated $1.3 trillion in student debt.

Student loans heavily weigh on a generation of millennials in the United States. The impact of student debt is broad and deep. According to our own data, student loan debt is causing 63% of debtors to delay buying a house, 73% of debtors to put off saving for retirement, 28% of debtors to put off marriage, and 34% of debtors to put off starting a family.

Earlier this month, we conducted a new survey of 500 graduated student loan borrowers with federal and/or private student loans. In our survey, we decided to have a little fun and got a little graphic. The goal of our survey was to find out what crazy things graduates would do to free themselves from the weight of student debt. Reader discretion is advised, the questions are a little crazy and slightly disturbing. That said, the results of our survey are clear. Student loan debt has a deep and influential impact on the lives of student debtors. And, student debtors are prepared to get a little crazy if it means that they would have no more student debt.

Crazy Student Loan Repayment Survey Infographic
  • 46% of borrowers would give up all forms of contraception (condoms, birth control, etc.) for life, if it meant that they would have no more student loan debt.
  • 52% of borrowers would leak and amateur sex tape of themselves, if it meant that they would have no more student loan debt.
  • 66% of borrowers would fight Conor McGregor for 5 minutes, if it meant that they would have no more student loan debt.
  • 75% of borrowers wouldn't bring Harambe back to life, if it meant that they would have no more student loan debt.
  • 58% of borrowers would give Donald Trump a hand job, if it meant that they would have no more student loan debt.
  • 41% of borrowers would drink Brazilian tap water for a full year, if it meant that they would have no more student loan debt.
  • 22% of borrowers would spend two full years in federal prison, if it meant that they would have no more student loan debt.
  • 26% of borrowers would live the rest of their life with a burnt tongue, if it meant that they would have no more student loan debt.
  • 37% of borrowers would give up one breast (females) or one testicle (males), if it meant that they would have no more student loan debt.
  • 52% of borrowers would contract a peanut allergy for life, if it meant that they would have no more student loan debt.
  • 26% of borrowers would live homeless on the streets of NYC for one year, if it meant that they would have no more student loan debt.
  • 55% of borrowers would break up with their significant other, if it meant that they would have no more student loan debt.
  • 76% of borrowers would vote for Gary Johnson for President, if it meant that they would have no more student loan debt.
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  • 33% of borrowers would move to Aleppo in Syria for 6 months, if it meant that they would have no more student loan debt.
  • ​58% of borrowers would would name their first born son Donald (first name) Trump (middle name), if it meant that they would have no more student loan debt.

We hope that you enjoyed our study, and that you weren't offended by our questions. This survey was intended to bring awareness to the $1.3 trillion student debt crisis in America. Student debtors are willing to give up so much, and undergo quite a bit of pain, if it means student loan forgiveness. 

Currently, there are very few student loan forgiveness programs. And, none of the options show in our survey are currently available through the Department of Education. The student loan crisis isn't going to be solved over night. There are options, such as student loan refinancing and consolidation, but eligibility requirements for these are often strict. We believe the problem needs to be solved through financial literacy education and participation from the private sector.

Copyright 2016