Move-in day for CSUMB students brings hope for a brighter future, and fear of student debt

SEASIDE, Calif. (KION-TV): Friday was California State University, Monterey Bay's big move-in day for students.

Thousands of new students were busy today moving in their belongings into their dorms on campus. Some were excited, and others were worried about their education debt.

“I'm only 18,” said Thalia Kutches, a Freshman student. “Was just living with my parents, and now I'm expected to go out into the world and then manage a massive amount of debt as well.”

This comes after 56% of student loan borrowers said they will be forced to choose between making their student loan payments or paying for necessities, like groceries, according to CNBC.

For some students, a job while going to school is the only way they feel like they can stay ahead of student loans, others said they are getting help from their parents.

"Make sure she has everything she needs, and then to be able to afford what we need to provide for this college and her needs,” said Andres Bravo Bautista, parent of a Freshman.

CSUMB leaders said, although some of their students might have to work and go to school, a lot of them don't graduate with massive debt.

"The reason CSUMB is ranked number 4 on upper mobility in the whole U.S. is because our students graduate with minimum debt and they're able to graduate and move forward and their family economically,” said Vanya Quinones, president of CSUMB.

CSUMB leaders said an average student loan for first-year students is around $3,327.00 and they also said thousands of students will be moving in this weekend as well.

Americans own more than $1.77 trillion in federal and private student loan debt, as of the first quarter of 2023, according to LendingTree.