USA Today – Jeff Reeves
“Student loans can get out of control in a hurry, mostly because students don’t find out about their total debt until it’s too late. Indiana University decided to change that. Starting in 2012, the Big Ten university began sending out annual “debt letters” to each of its students to provide an estimate of how much each IU student owed in full, how much they could anticipate to pay in interest and what a likely monthly payment could look like after graduation. “We talked to students and asked them how much debt they had, and they didn’t know how much in student loans they had out and what the repayments were going to be,” says Jim Kennedy, director of financial aid at Indiana University.”(more)