Student Loans

STUDENT LOANS: How deep are you digging? AVERAGE COSTS THE AVERAGE COST PER YEAR FOR 4-YEAR INSTITUTIONS IS $21,479 BOOKS BOARD ROOM TUITION $1,168 $3,937 $4,185 $12,189 CURRENT DEBT MARKET TOTAL STUDENT LOAN DEBT REPRESENTS $956 Billion STUDENT LOAN DEBT HAS GROWN 56% SINCE 2007 Of households headed by someone under 35, 4 in 10 HAVE STUDENT LOAN DEBT DEFAULTING | 13.4% of student loan borrowers defaulted in the first 3 years of repayment 1111 For those attending private, for-profit insitutions, the default rate within the first 3 years is were delinquent at some 40% point in the first 5 years of repayment 22.7% 37% of borrowers who started repayment in 2005 were able to repay their loans on time MOUNTAIN AMERICA CREDIT UNION FOR FINANCIAL EDUCATION RESOURCES, PLEASE VISIT wwW.BLOG.MACU.COM Sources: http://nces.ed.gowprograms/digest/d10/tables/dtio_345.asp http://www.studentpirgs.org/campalgns/sp/make-textbooks-affordable http://www.newyorkfed.org/newsevents/news/research/2012/an121127.htmi http://www.cbsnews.com/830-505145_162-57555780/student-loan-debt-nears-S-trillon-is-It-the-new-subprime/ http://www.pewsocialtrends.org/2012/09/26/a-record-one-In-Iive-households-now-owe-student-loan-debt/ http://www.ed.gow'news/press-releases/frst-officlal-three-year-student-loan-default-rates-published http://www.nytimes.com/2012/09/29/education/report-shows-more-borrows-delaulting-on-student-loans.html http://www.nytimes.com/201y03/16/education/16loan.html?_r=0