WAUSAU (WAOW) -- Wisconsin's students rank among the best in the country for paying off loans after graduation. Students usually have about six months after getting their diploma to start paying off their loans. Even in tough economic times, grads from Wisconsin seem to take care of their debts better than some others.
In a study put together by the U.S. Department of Education, Wisconsin students rank in the top five for staying on top of their debts, with just more than 5% defaulting on their student loans. When compared to other states in the Midwest, Wisconsinites fare better by at least a few percentage points. The highest number of students with loans-gone-bad come from Arizona. Some we talked to said financial matters can be a tricky topic for young scholars.
"Make sure you understand what you're getting yourself into because some students don't necessarily know," said UW-Marathon County freshman Carly Frombach. "They just take the money."
"I think that our area here tends to be rather traditional and conservative," said Rasmussen College campus director Sue Williams. "We take our responsibilities very seriously so it actually is the culture of the area."
"It's probably going to take a really long time after I graduate and after I get a career and it's all settled," said UWMC freshman Cassie Hanson.
About 40% of American undergrads take out some amount of student loans during their time in school. Students we talked to said it can be scary to take on that much debt, but it's well-worth it for the educational value they get out of it.