Data whiz and visual storyteller
Student loans often capture the spotlight, but among America’s millennials, credit cards are a much more common source of debt.
According to a recent NBC News/GenForward survey, almost half of U.S. adults age 18-34 say they currently carry credit card debt (46 percent), while just 36 percent reported having student loans.
More than three-quarters of the respondents (77 percent) said they carried at least one kind of debt, with auto loans coming in close behind student loans at 34 percent. Only 1 in 5 millennials (20 percent) reported having a mortgage.
As for balances owed, a quarter indicated their debts totaled more than $30,000, while a quarter said they were sitting below the $10,000 mark.
The survey also found that college graduates are more likely to have credit card debt (56 percent) than millennials without a college degree (40 percent). But the college graduates have higher salaries, with 50 percent making $50,000 or more per year, while just 31 percent of non-degreed millennials are making that much.
The NBC News/GenForward at the University of Chicago Survey was conducted in February and March 2018 among a nationally representative sample of 1,895 adults ages 18-34. Results were released April 4.