EUGENE, Ore. — In Tuesday night’s State of the Union Address, President Obama announced a new online tool that will help perspective students find out where “they can get the most bang for their buck.”
Students at the University of Oregon say they’re not surprised so many students are diving deeper and deeper into debt. But, administrators at Oregon State University say they’re doing everything they can to help make school more affordable for students.
Some students at the UO aren’t surprised that their average classmate is borrowing nearly $20,000 for their education. That’s why UO student Jon McCullogh thinks the online tool put out by the department of education is a good thing.
Prospective students can go online and find out average cost, graduation rates, and the average amount of student loan debt. It’s a welcome tool at Oregon State University.
“I think it’s just one additional measure of basically trying to be accountable and transparent to students and their families,” said Kate Peterson, Assistant Provost for Enrollment Management at OSU.
On the other hand, some students aren’t sure this information is accurate.
“If it’s something the schools have made for themselves or something the government is making without getting engaged with students then it’s useless,” said UO student Benjamin Ficklin.
Whether the results are accurate or transparent, one thing is clear, students are hoping something can be done to cut down on debt.
At both the UO and OSU, students are defaulting on their loans less than 5 percent of the time. That’s significantly lower than the national average of 13 percent.