Have We Been Set Up For Financial Failure? (Infographic)

April 24th, 2013 by Staff

1 in 3 graduates would have pursued one of the following, if they could do it all again.

  • Scholarships
  • Financial aid
  • Started saving earlier
  • Pursued a higher paying major
  • Worked while in college

Why is this?

Students are not being taught enough about financial responsibility. In fact only four states require a class in financial education. 65% of student loan borrowers misunderstand or are surprised by aspects of their student loans or the student loan process. In the past 3 decades the cost of a college degree has increased more than 1,000 percent. Student loans account for the most common form of increasing debt among ages 18-24. An average of 60 percent of students graduate with $24,572.45 in student loan debt.

New Hampshire averages the most with $32,440 for the average in student loan debt.
Utah averages the least with $17,277 for the average in student loan debt.

37 million students in America have outstanding student loans which now exceeds $1 trillion.

  • 17% are older than 50
  • 40% are under the age of 30
  • Nearly 42% are between the ages of 30 and 50

Don’t get buried, get educated about financial responsibility before you’re trapped by the weight of debt.

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