Answer: 65% of Class of 2018 had student debt when they graduated [latest data available from TICAS] with an average debt of $29,200

Questions:

• Why do you think that so many students need to take out student loans to pay for college?
• What are other ways that students can pay for college?
• Do you think taking on student debt is a positive or a negative? Develop a list of pros and cons.
  • How would you compare it to credit card debt or auto loans?

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (NerdWallet): 

Sixty-five percent of the class of 2018 graduated with student debt, according to the most recent data available from The Institute for College Access & Success, a nonprofit organization that works to improve higher education access and affordability. Among these graduates, the average student loan debt was $29,200.

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Additional NGPF resources to pair with this QoD:

• PAYBACK, in the NGPF Arcade, will help your students navigate their path to college graduation while balancing happiness, focus and connections
• These two FinCap Fridays provide current events related to the college finance topic: Show Me the Money and Be Fast With FAFSA 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

More posts by Tim