Online lender NetCredit.com has created an interesting infographic packed with stats about the costs of post-secondary education and how those costs impact student debt.
I’m not surprised to see that 28% of the average student’s college costs are paid for out of their parents’ income and savings. (Though I do encourage all students to pay for as much of their own schooling as they can to give themselves a sense of ownership and a meaningful stake in their own success.)
I am concerned to see, though, that 9% of the average student’s college costs are paid for through parent borrowing. That means the parents, not the students, are taking on loans to pay for college. Let’s hope those parents are being paid back!
Take a look at the infographic below for some other interesting stats and some tips on paying loans back after graduation.