"One in eight students at Iowa State University didn't realize they would have student loan debt after graduation"Nearly 40 percent of Iowa State University students underestimated the amount of student loans they owe, while one in eight didn’t realize they had debt, according to research by ISU faculty and staff released Wednesday.
The financial literacy study, which surveyed 801 undergraduate Iowans in fall 2010, also found 10 percent of students underestimated their debt by more than $10,000. Only 22 percent had not taken out loans.
The results show a need for additional financial counseling to help students understand their borrowing and how it will impact their lives after graduation, researchers said.
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New study: 1 in 8 ISU students unaware of college debt | The Des Moines Register | DesMoinesRegister.com
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