1 STUDENT LOAN BREAKDOWN WORK SHEET

WORK WITH YOUR CHILDREN/STUDENTS AND EXPLAIN THE TRUE WEIGHT OF STUDENT LOANS:

1. NATIONAL DEBT AVAERAGE

2. AVERAGE STUDENT LOAN BALANCE PER GRADUTE

3. AVERAGE INTEREST RATE ON PRIVATE AND FEDRAL LOANS

4. THE AVERAGE TIME IT TAKES AN AMERICAN TO PAY OFF THE AVAERAGE LOAN AMOUNT

***WORK THROUGH THE BASIC MATH TO FIND MONTHLY INTEREST RATES, LOAN TERM BREAKDOWN FROM YEARS TO MONTHS, AND A SIMPLE WAY TO BREAK DOWN INTEREST ALONG WITH HOW MUCH YOU END UP PAYING OVER THE LIFE OF THE LOAN