Knowing What Student Loans Cost

  • I've found something that could interest you. It's an article written for 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.

     

    Speaking of decisions leading to consequences, as you probably know we created a TDS Get Out of Debt Course. You might want to check it out and see how you're doing.


    Keep on Stretching those Dollars!
    Gary


Get Out of Debt

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