Student Borrowers Lack Understanding of Loan Terms, Survey
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Almost two-thirds of U.S. student-loan borrowers misunderstood or were surprised by aspects of their loans or the student-loan process, a study shows.
About 20 percent of the respondents in an online survey said the amount of their monthly payments was unexpected, according to the study released today by Young Invincibles, a nonprofit group in Washington that represents the interests of 18-to-34 year-olds. The respondents had an average of $76,000 in student debt.