Published June 2013. Financial aid and student loan rules change often, so some details may be out of date. Ask us about your situation.
When taking out loans to pay for college, many students don’t realize the impact of the debt they’re taking on and how much the loans will actually cost them over time due to accruing interest.
NerdWallet created this helpful infographic to explain student loans in terms most people can understand: how the lifetime cost of student loans compares to other expenses and investments like car payments and 401k contributions.