An End to Crushing Student Loan Debt

  • Most of you probably don't have college aged children. But even if your kids are still in diapers, this article should interest you. The article was written by the Pew Charitable Trust and is titled: "What Happens When You Warn Students About Their Loan Debt?"

     

    According to the study:
    "Indiana University officials say borrowing by undergraduates at the school has dropped 18 percent since 2012. That’s when the university began sending students annual letters that estimate their total loan debt and future monthly payments, as part of a push to boost their financial literacy."

     

    Bet that didn't surprise you. Knowing what you'll have to pay later is always a brake on what you're willing to borrow now. Unfortunately too many students don't have any idea what they'll be paying on loans after they graduate. Sounds like a policy that every school should have. Students need to know that the decisions they make today will have consequences later.

     

    Isn't that a lesson that we want all of our children to learn? That if they spend money today they won't have it available tomorrow. And, if they borrow money today that they'll have to repay it tomorrow. If we can instill that in our kids we will have made their adult lives so much easier and more productive.

     

    Keep on Stretching those Dollars!
    Gary


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