The burden of paying back hefty loans is becoming too much for some college students to bear. In a recent survey of 3,069 students, MagnifyMoney found that 39 percent of those with loans would consider dropping out of school before graduation to avoid taking on more debt.
Of those who would consider dropping out, more than half already owe $20,000 or more. Another 15 percent owe between $10,000 and $19,999.
However, the magnitude of the debt isn't the main reason students would consider giving up. More than half say they'd consider dropping out because it's difficult to balance school with a job. Another 30 percent note that they struggle to balance school with family time.