Majority do not know their loan interest rates
The majority of college students ignore the costs of their student loans and more than a third expect taxpayers to cover the tab, according to a new poll.
A poll of college students and recent graduates found that 56 percent of borrowers did not know the interest rates on the loans enabling them to attend college, according to Millennial Personal Finance. Additionally, 21 percent of borrowers believe their grade point average influences how much they will pay for their education and 34 percent of respondents said "the federal government was going to forgive their loans" if they were unable to make payments.
Only 14 percent of those who took out loans are confident they will be able to repay them, according to the survey.