Student loan debt, healthcare costs make millennials“feel the Bern”
NEW YORK, April 26 – A large survey of millennials – those born between 1980 and 2000 – shows that two major financial issues, student loans and healthcare costs, drive overwhelming support for Bernie Sanders for President, financial wellness community CentSai said on Tuesday. In a poll of 2,287 millennials conducted by CentSai, almost 56% said they would vote for Sanders. Hillary Clinton came in second at 24%. Only 11% said they would support Donald Trump and only 8% said they liked Ted Cruz.
Worries over student loan debt weighed heavily, with 32% of respondents saying this was their main financial concern. Healthcare was a close second at 24%. “Not having a job” was a concern for 23% of respondents. CentSai.com, where financial knowledge is shared through storytelling, creates an open and honest dialogue among millennials about their day-to-day financial choices.
“This poll reflects what we hear from our members routinely, who are struggling to buy homes, start families and do many of the things earlier generations took for granted. High student loan debt is preventing them from making other major life decisions,” says Doria Lavagnino, co-founder and president of CentSai.
Surprisingly, millennials are optimistic about their financial future with two-thirds (65.5%) saying they expect their own finances to improve during the next presidential term. Only 10% said they did not expect economic improvement. “Many millennials are struggling with huge student-loan debt and lower incomes, but if they are able to learn about managing money in an approachable way, it will help them reach their financial goals. After all, many still aspire to buy a home and send their kids to college,” says Arindam Nag, co-founder and chief executive officer.
On Friday, April 29, CentSai will release a special feature package on student loans and host a webcast Friday, April 29th at 1 PM EST on blab.im! From the financial impacts of student debt, all the way to the emotional impacts, we will discuss everything students and college grads need to know about their student loans.
CentSai is a financial wellness community for millennials where its members learn about finance through storytelling. Launched in April, 2016, young adults learn about mortgages, savings, student loans, spending and investing by sharing stories with experts and peers. It was founded by Arindam Nag and Doria Lavagnino, both former journalists. On CentSai you will find blogs, videos, podcasts and more explaining finance in an easy-to-understand way. Our team of ‘CentSai's’ (what we call our bloggers, vloggers, podcasters, experts and the like) live across the globe and come from all walks of life – from students to strippers. CentSai is here to change how finance is discussed.
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