Navigating the Thickets of Student Loan Counseling

TG’s critique goes on: Each module “imagines borrowers are tireless text processors,” while delivering a “bulky and ultimately ineffective user experience” that was often “generic to the point of uselessness.”

In short, this may be the only dose of financial education that teenage borrowers get when making one of the most important financial decisions of their lives. But the counseling offers a dizzying amount of facts and not all that much advice about how much to borrow, in what way and when. “It’s a life-altering decision being made with minimal information at a time of maximum distraction,” said Jeff Webster, the TG executive who led its research.

Source: NYTimes.com.