
Study Shows Student Loan Borrower Igorance - TaylorGood
While only 477 undergrads were interviewed (at 3 universities in the Bay Area), the stats leave little mystery as to why Student Loans have spiraled.<p>Highlights:<p>- 72.95% thought Sallie Mae was a person, not a company<p>- ​92.87% do not know the difference between subsidized and unsubsidized loans<p>- 97.90% do not know which loans accumulate interest in-school or during deferment<p>- 71.07% do not know the basic risks of a cosigner<p>- 75.89% with private student loans do not know the major differences between private and federal student loans<p>- 7.90% know their current interest rates<p>- 6.10% know their repayment terms<p>- 58.90% thought the total amount of outstanding student loan debt was in the millions (not billions or trillions)<p>- 96.02% did not know that student loan refinancing was an option after graduation<p>---<p>Source: https:&#x2F;&#x2F;lendedu.com&#x2F;blog&#x2F;January-student-loan-survey
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changosmuertos
That is the lending industry in general. Ask any person on the tree to explain
their loan... I would bet more that 75% are grossly incorrect.

I used to work for GMAC...

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santaclause33
All of these questions except interest and repayment terms are not indicative
if anything.

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miguelrochefort
Now tell me why students should know about these things.

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TaylorGood
??

Ones financial commitments in life are rather important..

