Millennials, Gen Z are putting off major financial decisions because of student loans, study finds

Student loan debt has forced many younger Americans to hold off on other major financial decisions, a new study finds. But despite the challenges, the vast majority said the debt would not have stopped them from pursuing higher education in hindsight. 

Millions of Americans are burdened with student loans. It has ballooned in the past two decades with Americans holding more than $1.7 trillion in student loan debt, including more than 43 million Americans with $1.6 trillion in federal student loans. It's the second largest form of debt in the United States behind home mortgages.