Scary Stat of the Day: Over 1/4 of Students With Loans Said They Have No Student Debt

From The Guardian:

Six in 10 college freshmen don’t really know how much debt they have taken on to pay for their first year in college, revealed a survey of 599 students at one American public university.  Debt seemed to just fall into a black hole for many young people. Just 38% of the respondents were able to estimate the amount of student loans they have taken on to pay for their freshman year.  About 16% had no idea what their debt was, 19% underestimated their burden and 28% overestimated.  The survey’s results weren’t a fluke, say Elizabeth J. Akers and Matthew M. Chingos of the Brookings Institution.   Comparing the results to a nationwide dataset, Akers and Chingos determined that the responses collected at that one college campus were representative of the nation.

Can you say communication breakdown?  Have your students brainstorm on communication methods to eliminate this reality gap.