Students who develop relationships with financial advisers make better decisions about education loans, according to a new University of Missouri study.
After a report last year by the University of Indiana concluded providing information alone changed student borrowing habits, MU conducted further research.
Nick Prewett, the school’s financial aid director, says it tracked students to see what happened when they had additional contact with advisers.
“The ones that (have added contact) did asked really great questions” Prewett said. “And then we saw a slight change in their borrowing behavior. And it really came down to that focus on having a relationship with the financial aid office.”
The university’s using federal grant money to help identify financially “at-risk” students, who receive additional information and assistance. The median student loan debt for MU graduates in just over $21,200. Nationally, it’s $35,000.
Read more: Missourinet