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