Common myths about student loan debt may deter students from attending a university, according to a report by U.S. News.
An independent council of 600 colleges examined common student-loan perceptions and explained why they were not true.
One common myth is that many graduates owe more than $100,000. While some students can end up owing this much in student loans, about one third of graduates have no debt. The average student will owe about $25,250 after college.
Another myth is that only people who have rich families can afford a college education. Although the price of tuition is increasing, 25 percent of all students attending a university have families that earn less than $25,000 a year.
The final myth addressed by the council was the notion that every student at a private college pays the same price. While the student covers about 60 percent of expenses, grants and scholarships often cover the rest.
- 3 tips for traveling cheaply
- Sony hack adds to security pressure on companies
- Survey says parents spend $532.87 a month to...
- Constantly changing online prices stump shoppers
- Record-breaking holiday travel expected
- Gift Guide: Strong photo, video gear options
- Biggest mailing day of the year means protect...
- Randy Shumway: One solution for air...
- NYC premiere of Rogen film 'The... 8
- Is brand loyalty the new religion? 6
- US consumer prices fall in November 4
- Insurers ease 'Obamacare' deadline 3
- Keystone pipeline to top Senate agenda... 3
- AP sources: NFL employees turn over... 3
- Sony hack adds to security pressure on... 3
- PacifiCorp to close Deer Creek Mine in... 3