Students' knowledge of how to pay for college is 'shockingly low'
More than 70% of students surveyed don't know that loans from the government are subsidized.
Most also don't know that student loans can be repaid on an "income-driven" plan, in which their monthly payments are capped at a percentage of their income. "The findings highlight an urgent need for more financial literacy-specific interventions, especially in light of the economic stakes at hand," says Jim Larimore, the chief officer for ACT's Center for Equity in Learning.Students' knowledge of the financial aid process is "shockingly low."by ACT, which in April 2018 surveyed about 1,200 high school students who were registered to take the standardized test.
Regardless of economic background, most families pointed to price as a very important consideration in choosing a college. Yet most students don't understand the basic workings of financial aid, which includes grants, scholarships, work study and loans., meaning interest doesn't accrue on them while the student is enrolled in college." plan, in which their monthly payments are capped at a percentage of their income.
"The findings highlight an urgent need for more financial literacy-specific interventions, especially in light of the economic stakes at hand," said Jim Larimore, chief officer for ACT's Center for Equity in Learning.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
High School Students Wrote About James Charles Drama For AP ExamsHigh school students across the country wrote about the James Charles and Tati Westbrook drama for their AP exams
Read more »
Understanding psychotherapy and how it worksLearn how to choose a psychologist, how therapy works, how long it lasts and what should and shouldn’t happen during psychotherapy.
Read more »
A fast-growing East L.A. tortilla business started with two high school friendsRick Ortega and Omar Ahmed run Kernel of Truth, an East L.A. company that makes organic, non-GMO tortillas for Guerrilla Tacos and other Mexican restaurants.
Read more »
Jon Favreau Understands Why Gwyneth Paltrow Forgot She Was in ‘Spider-Man,’ He Forgets TooGwyneth Paltrow isn’t the only actor who had trouble keeping track of what was going on in the Marvel Cinematic Universe. “With the Marvel things, they have so many films happening at t…
Read more »
“CIA”: Understand The Cybersecurity Triad In 5 Minutes Or LessWhen cybersecurity professionals talk about the CIA, we don’t mean the intelligence agency operating out of Langley.
Read more »