[SamAdams76]

According to the same survey, only 30 percent of first-year students were able to estimate their student-loan balance within 20 percent.

The same could be said about anything else. Most people couldn't tell you within 20% what principal remains on their mortgage. Or their credit card debt. Or what is sitting in their 401k account.

Some people manage money well. Many others don't and they go through their entire lives that way.

Maybe they could teach money management in college instead of gender studies.

[Harmless Teddy Bear]

Most people couldn't tell you within 20% what principal remains on their mortgage. Or their credit card debt. Or what is sitting in their 401k account.

You get monthly statements.

How can you not know?

[ExTxMarine]

DING! DING! DING!

We have a WINNER!!

The issue isn't that college loans are difficult to understand. The REAL issue is that most kids graduating HIGH SCHOOL don't understand finances! That's a failure of our education system...not the colleges.

The colleges are offering kids a chance to get away from and out from under their parents; THAT is the major draw of college (oh and the BS promise of great fortune upon graduation)! But even more important about this whole debacle is that most 18/19-year-olds are not worried about those loans...they are worried about getting into their first college party or frat or sorority! They are NOT thinking that less than 50% of their graduating class will make more than $80K a year in the first ten years after graduation!

[dakine]

“The same could be said about anything else.
1.Most people couldn’t tell you within 20% what principal remains on their mortgage.
2.Or their credit card debt.
3.Or what is sitting in their 401k account.”

FR folks’ responses:
1. Zero
2. Zero
3. Zero

[wgmalabama]

I can answer all those dang near +/- $10.