| Students at each of these institutions, estimates of their current college loan debt is…overestimated | correctly estimated | underestimated | |
|---|---|---|---|
| Public Four-Year Colleges | 22 | 24 | 54 |
| Private Non-Profit Four Year | 27 | 23 | 50 |
| Two-Year Colleges | 22 | 29 | 49 |
%
Sources:
nytimes.com
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A new study finds college students are taking on larger loans than they understand. “College students do not have a firm grasp on their financial positions, including both the price they are paying for matriculation and the debt they are accruing,” write the authors, Elizabeth Akers and Matthew Chingos. “Without this information, it’s unlikely that students will be able to make savvy decisions regarding enrollment, major selection, persistence and employment.”