How This College is Trying to Get Students to Borrow Less
Could curbing the nation’s student debt problem be as easy as telling students exactly how much they’re borrowing? One university is becoming a testing ground for that question. Beginning in the 2012-2013 academic year, Indiana University began sending students an annual letter telling them how much to expect to pay each month to cover their student loans once they graduate. The idea is that if students have a clearer sense of how their borrowing will affect them post-college, they’ll make smarter choices, such as only taking out loans for necessary expenses like tuition and trying to find other ways to cover the rest.