student debt in the united states
TRANSCRIPT
Students across U.S. march over debt, free public college
Seven of 10 seniors (69%) who graduated from public and nonprofit colleges in 2014 had student loan debt, with an average of $28,950 per borrower. Over the last decade—from 2004 to 2014—the share of graduates with debt rose modestly (from 65% to 69%) while average debt at graduation rose at more than twice the rate of inflation.
Local HSU Student Debt
For this Survey, 30 HSU Students were interviewed all either in their Junior or Senior year. Numbers are shown as averages. The questions and answer results are as follows:
1. How much debt are you in? $13,000 Average2. How much more do you think you have to take out? $6,500 more Average3. How long do you think it will take you to pay it off? 10 years4. Do you know how to pay off the debt? 27% No’s, 33% I’ll figure it out, 40% Yes5. What are the interest rates on your loans? 30% Knew, 70% had no idea. Average Interest rate of about 5%6. What type of loans do you have? (A. All federal B. All private C. Some federal, some private D. The bad kind)
76% A, 24% C, 100% D7. If you find that your student loan payments are unmanageable, what should you do? Most haven’t been paying yet,
while some were hoping for student loan forgiveness8. Are there other options that you know of besides student loans? No9. What resources have you worked with to avoid student loans? Student financial services, googling it, working a full
time job.
The Top 10 Student Loan Tips for Recent Graduates
1. Know Your Loans
2. Know Your Grace Period
3. Stay in Touch with Your Lender
4. Pick the Right Repayment Option
5. Don't Panic
6. Stay out of Trouble!
7. Prepay If You Can
8. Pay Off the Most Expensive Loans First
9. To Consolidate or Not to Consolidate
10. Loan Forgiveness
Helpful Website
https://studentloans.gov/myDirectLoan/index.action
https://studentaid.ed.gov/sa/types/loans
Student Loan Crisis
Student Loan Crisis: WTF is going on??? - https://www.youtube.com/watch?v=kSAd8vbTXOg
Voices of Debt - The Student Loan Crisis: Don't Major in Debt - https://www.youtube.com/watch?v=uPcSYrPx3Ao
Dirty Jobs' Mike Rowe on the High Cost of College - https://www.youtube.com/watch?v=qzKzu86Agg0
Glenn Beck interviews Mike Rowe: "One size doesn't fit all" - https://www.youtube.com/watch?v=0_BDOIps9MM
New Hopes
Obama Proposes Free Community College - https://www.youtube.com/watch?v=mYgRFXNzfZE
President Obama Announces Free Community College Plan - https://www.youtube.com/watch?v=d-QDfEMXAgk
How Obama's Student Loan Forgiveness Works - https://www.youtube.com/watch?v=5sR0O6kSRDA