A Scary Truth: Student Loan Borrowers Know Nothing About Their Student Loans
- January 15, 2016
- Posted by: Dave Rathmanner
- Category: Student Loans
At LendEDU we take pride in creating awesome tools and resources for student loan borrowers. Since starting LendEDU almost 17 months ago, we’ve found that students, parents, and graduates struggle to understand the financial aid and student loan process. And, we’ve learned that most student loan borrowers underestimate the severity of their debt until after graduation.
Earlier this month we decided to survey college students at a nearby college to see how much they knew about their student loan debt. Over the course of a couple days of surveying we confirmed our suspicions. Most of our nation’s current college students don’t understand their student loans or the financial aid process. With permission, we filmed some of our respondents while we asked them a series of questions related to their student loan debt.
At the end of our survey we decided to package together some of our favorite survey responses into one short video. We hope you find this video eye opening and entertaining. Enjoy!
At LendEDU we help students, parents, and graduates find transparency in the student loan market. As part of our mission, we spend a lot of time creating helpful and easy to understand resources for student loan borrowers. We’ve created hundred of pieces of original content over the last year. Here are some of our favorites:
We hope that you enjoyed our video. In the coming month we will be releasing the full results of our survey. Until then, we would love to hear your feedback, comments, and questions.