‘Money Monday’ on millennial student loan debt

Posted at 3:13 PM, Apr 03, 2017
and last updated 2017-04-03 17:13:31-04

SALT LAKE CITY -- Gary Gygi with Gygi Capital Management spoke about student loan debt on Money Monday.

Student loan debt is over 1.3 Trillion dollars in the United States with 42 percent of millennial employees having student loan debt, according to a 2016 PWC Employee Financial Wellness Survey.

In that survey, millennials who have student loan debt believe that debt will make it harder to reach their financial goals.

"When you're heading off to college you've got to figure out: A. what you're going to study but then B. Are you at the right college to give you an education that's going to allow you to pay off that debt?" Gygi said.

Gygi said many people are getting out of school with more debt than can actually pay off with the types of jobs they get.

Watch the video above for the full interview.