Thanks to Consolidated Credit for providing this infographic on college debt.
Staggering college debt is no way to start off a secure financial future. Yet thousands of students every year rack up thousands of dollars in debt. The average college student attending a four-year institution ends up with $25,000 in debt upon graduation, which is far from a great graduation present for someone just starting out in life. And in the current economy and uncertain future, a new graduate facing thousands of dollars in debt before even securing a job is put in a tenuous situation at best. Yet, a college education is an investment in the future—so doing without higher education is not an ideal option. With increasing tuition costs, the average family cannot afford most colleges without financial assistance. As government assistance dwindles and the nation’s student loan debt grows ever bigger, new college students and their families need to face the sobering statistics of the cost of college.
Did you know that one in 12 federal loan recipients default? Find out more details about student loans through this infographic put together by Consolidated Credit. Educate yourself on specifics of loans and debt, like the total interest paid over the life of a loan and how much modern day tuition today would have purchased 60 years ago.