As illustrated in the Bloomberg graph above, student loans are the fastest growing area of household debt. And they just keep growing. In the Tampa Bay Times article below, the title reads: Student loan default can gut your paycheck. What do you think that means? Read the article and discuss the consequences of defaulting on a debt. Discuss the costs and benefits of taking out student loans. For more information, check out the information on student loans from the US Department of Education (DOE) .
Financial Literacy Standards
SS.8.FL.1.6 Identify the opportunity costs that education, training, and development of job skills have in the terms of time, effort, and money.
SS.912.FL.1.3 Evaluate ways people can make more informed education, job, or career decisions by evaluating the benefits and costs of different choices.
Deborah Kozdras, Ph.D.