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Survey Shows Iowans Overestimate Student Loan Debt

There are a lot of surveys that take place at the Iowa State Fair. From political leanings and favorite food predictions, there are pollsters throughout the grounds trying to learn the tastes, ideologies and preferences of the people in Iowa. But one poll revealed that many predict a worse-case scenario when it comes to student loan debt. A survey conducted by Iowa College Aid, the state agency that administers grants and scholarships to students seeking post-secondary education, showed that 58 percent of those surveyed expect student debt from earning a college degree to top $35,000. The number, they say, is 30 percent higher than the average student debt for Iowa public university graduates at just over $27,000, and 10 percent higher than the average debt for graduates of private, not-for-profit colleges and universities in Iowa of $31,800. The prediction was two and a half times over the average debt for graduates of Iowa’s community colleges, which was reported at just over $14,000. Karen Misjak, Executive Director of Iowa College Aid, says they know that more than half of all Iowans who never pursue higher education cite cost as the reason. This, she said, means there is a very unrealistic expectation of the cost of student loan debt, and this could hinder the state’s efforts to increase the number of residents who go on to earn a certificate or degree. More information can be found at IowaCollegeAid.gov.

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