Ninth Annual Financial Literacy Leadership Conference Student Loan Debt October 17, 2016 Cheryl Weiss Student Debt Specialist WI Department of Financial Institutions

Post-secondary education is a good thing

Post-secondary education is a good thing College is an expensive undertaking

Post-secondary education is a good thing College is an expensive undertaking Student debt, college affordability are hot topics How much debt does an average student incur? How many people currently have debt? What percentage of people default on their loans? Why can’t we just forgive student debt? The list of questions goes on and on and on.

Post-secondary education is a good thing College is an expensive undertaking Student debt, college affordability are hot topics How much debt does an average student incur? How many people currently have debt? What percentage of people default on their loans? Why can’t we just forgive student debt? The list of questions goes on and on and on. The student debt debate is emotional

$28,810 Wisconsin statistics Average debt of Wisconsin college graduates in 2014 (lower than all neighboring states).

$28,810 84% Wisconsin statistics Average debt of Wisconsin college graduates in 2014 (lower than all neighboring states). 84% In their lifetime, bachelor’s degree holders earn 84% more than those with only a high school diploma. On average, that’s $964,000!

$28,810 84% 70% Wisconsin statistics Average debt of Wisconsin college graduates in 2014 (lower than all neighboring states). 84% In their lifetime, bachelor’s degree holders earn 84% more than those with only a high school diploma. On average, that’s $964,000! 70% Percent of Wisconsin grads with student debt (3rd highest in the nation). SOURCE: The Institute for College Access and Success

In total U.S. student loan debt National statistics $1.26 Trillion In total U.S. student loan debt

$1.26 Trillion 43.3 Million National statistics In total U.S. student loan debt 43.3 Million Americans with student loan debt

$1.26 Trillion 43.3 Million 11.6% National statistics In total U.S. student loan debt 43.3 Million Americans with student loan debt 11.6% Average rate of student loan delinquency SOURCE: newyorkfed.org and clevelandfed.org

Google ‘student loans’ or ‘student debt’

Google ‘student loans’ or ‘student debt’ Tons of information, some sources more useful than others

Google ‘student loans’ or ‘student debt’ Tons of information, some sources more useful than others Some of it is hard to find

Google ‘student loans’ or ‘student debt’ Tons of information, some sources more useful than others Some of it is hard to find Wouldn’t it be nice to have a resource that is focused on Wisconsin?

Google ‘student loans’ or ‘student debt’ Tons of information, some sources more useful than others Some of it is hard to find Wouldn’t it be nice to have a resource that is focused on Wisconsin? Look no further … LOOKFORWARDWI.GOV

Questions?

LookForwardWI.gov Wisconsin’s resource website college affordability · student debt Invite Bob and Richard to say a word Invite Erin to say a word