One University Saved Students $31M In Student Loans By Sending Them A Letter

Parents Forum
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<p>“'Know before you owe' took on a different meaning for students at Indiana University this year. A new initiative by the school resulted in students borrowing nearly $31 million less than in previous years." ...</p>

<p><a href="http://consumerist.com/2014/07/03/one-university-saved-students-31m-in-student-loans-by-sending-them-a-letter/"&gt;http://consumerist.com/2014/07/03/one-university-saved-students-31m-in-student-loans-by-sending-them-a-letter/&lt;/a&gt;&lt;/p>

<p>More: <a href="http://www.bloomberg.com/news/2014-07-03/here-s-how-indiana-university-students-borrowed-31-million-less.html"&gt;http://www.bloomberg.com/news/2014-07-03/here-s-how-indiana-university-students-borrowed-31-million-less.html&lt;/a&gt;&lt;/p>

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<p>Congrats to Indiana for figuring out a way to actually get young adults to understand the reality of loans and accruing interest. Showing their accumulated debt and what they will owe before they take on more debt seems so elementary but it worked.</p>

<p>Every college in the nation should follow their lead. </p>

<p>Every high school should incorporate their model to teach seniors the reality of any loans and accrued interest including credit card debt. </p>

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<p>Impressive web site they have with lots of information. <a href=“http://moneysmarts.iu.edu/”>http://moneysmarts.iu.edu/&lt;/a&gt;&lt;/p&gt;

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<p>Nice link Erin’s Dad. </p>

<p>I have to say it but I am not thrilled with the opening page “What you’re Parents didn’t tell you” and the sub category “Parents Mistakes”.</p>

<p>Nothing like deflecting personal responsibility.</p>

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<p>I didn’t take offence. I imagine they’re trying to grab student’s attention. That will get more clicks than “Click Here to Learn About Finances”. And I don’t know how it would be the School’s Personal Responsibility. Would you rather title it: “Things You’re Too Ignorant to Think About”? I doubt they’d get anyone coming back.</p>