Hoosiers Rank 11th in College Loan Debt Across the Nation
Hoosiers are up to their necks in college debt, says a recent study.
According to the Institute for College Access and Success, Indiana ranks 11th in the country of states with the highest college loan debt, with an average loan debt of $27,500 – more than $1,000 above the national average.
However, if college debt has the stranglehold on you or someone you know, never fear, there are some resources currently available that can assist in taking away some of the burden of college debt like the Student Loan Game Plan administered by Indianapolis-based not-for-profit ISM College Planning.
Student Loan Game Plan is a tool available to all Indiana residents that helps put their futures into perspective by showing them the reality of borrowing too much in order to obtain a certain degree. “When a student can look and see, ‘Holy cow, my field of study on average pays $30,000 or $40,000 a year,” explains William Wozniak, director of marketing for ISM College Planning. “If I borrow this amount, how much of my bring-home pay on average is going to have to go to a student loan, how much is going toward interest and how much do I have left over for food.'”
This is important for many new students and their families to take a look at so that they can try to gauge a better return on their investment. “We just want as many Hoosier families as possible to take advantage of these completely free resources, make the best decisions and have the least amount of debt possible,” said Wozniak.
For more information on Student Loan Game Plan, click here.