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American Students Know Almost Nothing About Their College Loans

People don't know what they owe, how to repay it, and what the government can do to collect the debt.

Handing an 18-year-old a loan for tens of thousands of dollars to get a college degree comes with many risks. One is that the borrower may not understand anything about the contract being signed.

A new study suggests that young people with education debt don't know the most basic facts about their loans. The survey, conducted in January by Lendedu, a company that provides information about loan refinancing options, adds to a growing body of research into the widespread ignorance among young people about debt that could follow them to their graves.