(Bloomberg Business) -- To lenders, millennials are like ugly-looking fruit: They may appear suspect, but on the inside they're just as good a bet as the next apple. That's roughly the takeaway of a report published Wednesday by credit rating company TransUnion, which suggests young people with student debt are not as risky an investment as they may seem.
The company reviewed credit profiles for 6 million people and found that having student loans did not prevent them from taking out other kinds of consumer debt in the long run.
"Younger consumers are doing a really good job at managing other types of credit," says Charlie Wise, a vice president in TransUnion’s innovative solutions group. "This is a surprisingly credit active, credit hungry group that seems to perform well on those loans."
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