Is Anybody Helping Millennials Navigate Their Student Loans?
Financial aid counselors are of little help, survey finds. But bankers fare far worse.
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College financial aid counselors are supposed to be students’ primary resource to help figure out how to pay for school—determining how much they'll need to borrow, the types of loans best suited for them, and sources of cash. But a recent survey suggests that most young Americans saddled with student debt aren’t getting that level of care.
Less than half of millennials who have dealt with student loans called college financial aid offices “helpful,” according to a September online survey of 2,086 American adults conducted by ORC International for Citizens Bank, one of the nation’s largest lenders and a unit of Providence-based Citizens Financial Group Inc.