Category Archives: Student Loans

NGPF Podcast: Tim Talks With Dottie Vollmer, Peer Financial Educator at Indiana University

Thank you to Dottie Vollmer, a Peer Financial Educator, for sharing her expertise with our educator community in this recent podcast (duration: 17 minutes).  Dottie counsels college students as a member of the MoneySmarts team at Indiana University.  In this podcast, she shares what she has learned in her work with college students on budgeting, student loans and credit cards and answers such questions as:

  • What are the biggest misconceptions about money that college students have?
  • What budget items do college students have the most difficulty cutting?
  • What do you know now that you wish you knew in high school?

Show notes: Continue reading

How Much Do Americans Pay In Interest On Their Debt?

This chart released quarterly by the Federal Reserve presents several learning opportunities:

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Lesson 1: Mortgage debt far exceeds all other consumer debts with a total of $8.12 trillion as of the end of Q2 2015. The next closest, student loan debt, stood at $1.19 trillion or almost 1/8 the amount of mortgage debt. Continue reading

Activity Idea: Putting A Face On What It Means To Be In Debt

I often hear my high school students remark “why would anyone ever allow themselves to be in debt?” when they see the costs and consequences of being saddled with debt.  Unfortunately, most people don’t plan to be in that situation…life just happens.

I stumbled upon this website, the Debt Project, that I thought would help to put a human face on debt but also help students to understand the life events and decisions that help lead to indebtedness.  The Debt Project has portraits and 47 first person stories that are handwritten and describe the amount of debt and the story behind the debt.

So, what’s the activity idea? Continue reading