Millennials now represent more than one-third of the U.S. population. Tech savvy and fiercely motivated, this entrepreneurial bunch represents the largest share of the American workforce—1 out of every 3 employees.
Yet a recent poll reveals that more than half of millennials who dream of launching a start-up are trapped in unrewarding jobs, many outside their major of study, unwilling to take business risks. Why? Although this group is highly educated—61 percent attended college, compared with only 46 percent of baby boomers—nearly half are shouldering student loan debt of five figures or more.
Some young founders are undeterred. They've found ways to work full-time on a business, even with big student loan bills. Loan deferment, access to investors, peer networking and mentorship from top executives are the types of assistance in an entrepreneurship program run by SoFi, the largest online provider of student loan refinancing. So far, SoFi has helped 25 aspiring entrepreneurs get their businesses up and running—and with their newfound success they have now either paid off their student loans or made a big dent in the debt balance.
Here are 7 of the biggest millennials-overcoming-student-debt business success stories.
—By Barbara Booth, CNBC.com
Posted 12 August 2015