Event Title
Decoding Debt: Can College Students Understand Student Loan Debt Letters?
Date of Publication
2-3-2021
Document Type
Presentation
Abstract
This study analyzes a sample of 24 student loan debt letters gathered from institutions of higher education across the country to fill research gaps. Results suggest most debt letters are not readable by the average first- or second-year college student, jargon differs between sectors (ex: public, private), and debt letters share many common elements, such as aggregate loan totals and interest rates, but many do not include contact information or any multimedia, even though letters were written to be delivered digitally. Implications for research, practice, and financial aid communication are addressed.
Keywords
Student Loan Debt, Education
Persistent Identifier
http://hdl.handle.net/10950/2943
Decoding Debt: Can College Students Understand Student Loan Debt Letters?
This study analyzes a sample of 24 student loan debt letters gathered from institutions of higher education across the country to fill research gaps. Results suggest most debt letters are not readable by the average first- or second-year college student, jargon differs between sectors (ex: public, private), and debt letters share many common elements, such as aggregate loan totals and interest rates, but many do not include contact information or any multimedia, even though letters were written to be delivered digitally. Implications for research, practice, and financial aid communication are addressed.