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TMCC teaching students to limit loan debt

Updated: Tuesday, March 11 2014, 09:58 PM PDT
TMCC teaching students to limit loan debt story image
RENO, Nev. -- More than 40 million Americans currently have student loan debt. It has grown from $200 billion in 2000 to $1.2 trillion in 2014.

Truckee Meadows Community College Financial Aid Director Sharon Wurm said her department focuses on teaching students to only borrow what they need.

“It’s very easy to get into debt and it’s really hard to get out of debt,” said Wurm. "So do they need to borrow just enough to pay for their books and their expenses, could they get by on living expenses with a part time job and you know not to just borrow the whole amount.”

In the last three years, total TMCC student loan borrowing has gone down 40%. Wurm said that is because they developed a plan to better educate students.

“We ask them to fill out a loan application, to read through it. We don’t tell them how much they can borrow, we say you know here’s your option and then we also ask that they watch financial literacy videos.”

TMCC also offers free workshops by peer mentors that teach students how to separate wants from needs, and much more.

sot- etzal corona, tmcc financial peer mentor

“Buy generic brands as well and be careful with what you buy because it definitely will add up," said TMCC Financial Peer Mentor Etzal Corona.

Several free workshops are available all semester. For more information, go to this website.

TMCC teaching students to limit loan debt
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