SPRINGFIELD, Mass. (WWLP) – Student loan debt has doubled since 2007 and a new study by Kansas State University says that colleges are doing very little to educate students on their finances.
Classes at the American International College in Springfield have begun and some students there told 22News that they’d like to be offered a course about managing their finances. Students say a course like this would help a lot with the increasing rate of college tuition.
Student loan debt is now higher than credit card debt and all other consumer debt.
The new report from Kansas State University says despite the increasing student loan debt, most universities don’t offer financial education programs.