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December 5, 2007

Schools face conflict over student debt levels

  • One college loan expert said some schools fear that if students realized how long it would take to work off their college debt, they would switch to a public university.
    AP Business Writer

    NEW YORK — As students pile up ever-increasing education loan tabs, some colleges and universities are starting to question whether they should be counseling these young borrowers — before they end up with debt that will take them decades to work off.

    Educational institutions have not seen financial counseling of students as their responsibility, although many students have little understanding of debt and their own personal finances. Most schools focus solely on getting students the funds needed to graduate, skirting discussions about the risks of credit even as a typical debt load soars into the tens of thousands of dollars.

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