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Impact of Student Debt

aRE Impact of Student Debt Among Recent Graduates 30,5 AVERAGE DEBT OUTSTANDING 49.1 (thousands) College Graduates Grad School Graduates Average monthly payments Typical monthly payments More than required minimum $274 $372 College Grad School Only required Graduates Graduates minimum 34% 87% make all payments on their own, with their own funds/income. have monthly payments that Time it will take to pay off student debt in full exceed 20% of their income. 25% 20% 15% Upto 2 years 2 to 4 5 to 9 10 to 15 More years years years than 15 years 53%. Discussed a plan to pay back loans with .. find their lives are HARDER now than they 43% 33% 25% expected, as a result of their student loans. My parents No one discussed a Someone at the plan with me financial aid office Most common cutbacks graduates make in order to afford to pay off loans SPEND LESS ON GO OUT LESS OFTEN EAT OUT LESS FEWER VACATIONS CLOTHING WITH FRIENDS Personal Attitudes (Top 2 Box Agreement) It's deceptive of colleges and 75% universities to play down the cost of their education in recruiting. Higher education is becoming 59% limited to the very wealthy who can afford it. If I had to do it over, l'd rather not 25% go to college/grad school than have to take a loan. "I feel like going to school wasn't worth it. I owe more in student debt than I'Il ever be able to pay off and there are so many things I want to do while l'm still young that Imay never be able to do because of student debt." Survey included 501 US residents, ages 21+, who have graduated college or graduate school since 2001 and took out a student loan to fund their education. BUZZB ACK think forward © 2013 BuzzBack LLC For more information, email info@buzzback.com www.buzzback.com

Impact of Student Debt

shared by BuzzBack on May 09
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Diplomas aren’t the only thing graduates are earning these days – many have acquired crushing college debt they weren’t prepared for. Our latest study finds graduates feeling deceived, disillusi...

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