Dive Brief:
- A new Gallup poll shows that paying for tuition or college loans is the top financial worry for young adults in the U.S.
- The poll shows that 21% of adults between 18 and 29 and 14% between 30 and 49 report that college expenses and loans are their No. 1 worry.
- For adults between 50 and 64, the concern for college expenses and loans drops to eighth on the list, with only 7% listing it as their top financial problem.
Dive Insight:
Maybe this indicates college costs will be a top election issue. For American adults, the concern over college expenses has gradually increased over the last few years. In early April of 2012, 7% listed the issue as the most important financial concern facing their families. That increased to 9% in 2013 and 11% earlier this month. Broken down by household income, college expenses and loans is the top concern for families making $75,000 or more, at 14%. For families in the $30,000 to $74,999 category, the topic is ranked fifth, at 8%, and for families below the $30,000 threshold, it’s ranked sixth, also at 8%.