A new study has revealed that when many young people are about to enter college they do not understand much, if anything, about the student loans they are signing up for. They do not fully grasp the consequences of taking on that much debt and how long it will take to pay off. Cenk Uygur and Ana Kasparian hosts of The Young Turks discuss.Do you think you knew everything you should have about your student loans? Let us know in the comments below.Read more here: http://www.bloomberg.com/news/articles/2016-02-02/american-students-know-almost-nothing-about-their-college-loans“Handing an 18-year-old a loan for tens of thousands of dollars to get a college degree comes with many risks. One is that the borrower may not understand anything about the contract being signed.A new study suggests that young people with education debt don"t know the most basic facts about their loans. The survey, conducted in January by Lendedu, a company that provides information about loan refinancing options, adds to a growing body of research into the widespread ignorance among young people about debt that could follow them to their graves.When Lendedu talked to 477 undergraduate and graduate students at three Bay Area campuses, it found that just 6 percent of them knew how long they would be repaying the debt. Only 8 percent knew the interest rate on their loan. (That could explain why loan collectors, such as Nelnet, need to broadcast on Twitter that federal loan interest rates are set by the government.)”***Download audio and video of the full two hour show on-demand + the members-only post game show by becoming a member at http://www.tytnetwork.com/join/. Your membership supports the day to day operations and is vital for our continued success and growth.Get The Young Turks Mobile App Today!Download the iOS version here: https://itunes.apple.com/us/app/the-young-turks/id412793195?ls=1&mt=8Download the Android version here: https://play.google.com/store/apps/details?id=com.tytVideo Rating: / 5
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