Bloomberg Business reports on a dramatic increase in young adults unable to move out of their parents' homes. Increasing student loan debt is the major reason for this change. The report says:
[young adults] who were more heavily reliant on student debt... are significantly and substantially more likely to move home to parents when living independently, and are significantly and substantially less likely to move away from parents when living at home
We believe that the same trend is occurring in New Zealand. We are now seeing people with student loan debts of more than $300,000. This level of student loan debt is frightening, however, people don't even need to have a fraction of that debt amount before their financial lives become impossible to manage.
Please talk to us if you, or someone you know, needs help.
Please talk to us if you, or someone you know, needs help.