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Student Loan Debt: Your Student Loans Could Have Paid For 240 iPods (Graphic)

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Did you know that the money you're spending on student loans could have bought 240 iPods?

Now, we're not quite sure what one would do with 240 iPods, but the figure is still astounding.

The cost of student loans is so expensive, most students have a hard time wrapping their heads around how much money they're really spending. In fact, nearly two-thirds of all student loan borrowers were surprised by their repayment terms, monthly payment, or interest rate, according to a recent study by Young Invincibles.

When you're thinking about such large sums of money, it might help to visualize debt in relatable terms, and the personal finance site NerdWallet has come up with this nifty infographic to help you understand how much money you're really spending on college.

Though a college degree is expensive, it is ultimately less expensive than the cost of dropping out, research has found. NerdWallet says a college degree is worth $1.2 million over one's lifetime.

Check out the graphic below:

Understanding Student Loans in Real Terms


Via: NerdWallet

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