Most college students literally have no idea how much they’re paying to go to school

A majority of first-year undergraduates can't correctly estimate how much student loan debt they're taking on. More surprising, among college freshmen who have taken out federal student loans, more than a quarter (28 percent) don't think they have any federal debt, and 14 percent don't think they have any debt at all. Those are the surprising findings of a new Brookings Institution report authored by Beth Akers and Matt Chingos.

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