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Student Debt Crisis

Student Debt Crisis

Rodrigo Ahumada

Tashina Clark

Michael Dennis

Salt Lake Community College

Student Debt Crisis

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Student Debt Crisis

The amount of student loan debt taken on by students to attend college has steadily been

rising as the costs of attending schools have increased. According to the website Student Loan

Hero, the average class of 2016 student loan debt is $37,172 per student. This represents a 6%

increase from the year before. We believe that one of the biggest contributors to this increase is

lack of financial experience and education among college students. This communications

campaign will provide first time college students a resource of financial information that may be

used to navigate financial options for college.

Purpose / Objective

The purpose of this communications campaign is financial education to first time college

students. Many first time students lack financial education and experience, especially that needed

to properly evaluate financial decisions which have long lasting effects on the student's financial

situation long after college is over. This information will be aimed at the beginning student. We

want to educate students early on in the college experience, before financial mistakes are made

or bad financial habits formed. We will use communication channels to educate the student about

financial resources and considerations that can be used to navigate college finances.

Learning Objectives

The learning objective of the student debt crisis is to become aware and educate future

students of the growing crisis of student debt.

We hope to communicate, develop, and provide valuable knowledge on how to prevent first time

loan appliers of this critical situation.

Preparing students with quantitative literacy for solving student loan formulas when applying for

loans.
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Student Debt Crisis

To critically think of the challenges and options that may develop as the student begins the

student loan process

Develop awareness and knowledge of different student loans that are available.
Gather and analyze all information that is made available.

Audience

The target audience for this communication campaign is first time college students with

little or no financial experience. It will be focused on students as they are considering options to

pay for college. Below are some of the financial statistics of this audience:

College Student Financial Statistics

71% of students graduating from four-year colleges had student loan debt

(https://studentloanhero.com, 2012).
66% of graduates from public colleges had loans (https://studentloanhero.com, 2012).
88% of graduates who received Pell Grants had student loans in 2012, with an average balance

of $31,200
53% percent of those who didnt receive a Pell Grant had student loan debt and borrowed $4,750

(https://studentloanhero.com, 2012).
$1.41 trillion in total U.S. student loan debt (https://studentloanhero.com, 2012).
44.2 million Americans with student loan debt (https://studentloanhero.com, 2012).
Student loan delinquency rate of 11.2% (90+ days delinquent or in default)

(https://studentloanhero.com, 2012).
Average monthly student loan payment (for borrower aged 20 to 30 years):

$351(https://studentloanhero.com, 2012).

Audience Analysis
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Student Debt Crisis

The audience is first year college students. For many first time students, College is the

first major long term investment they will make. Students without outside financial support and

guidance are left to navigate the process of obtaining the necessary funding to attend college.

Students will turn to student loans as the funding source to pay for college and when they do it

isn't always clear what options are available. Most first time students have not fully connected

the college experience as an investment in their future potential earnings. Because this

connection has not formed, many will take student loans without a financial plan in place to

properly spend the money in order to maximize their investment.

Messaging Goals

Think

We want first time college students to actively think about all available option of student loans.

Students should be proactive with their financial decisions by becoming aware of the struggles

that they may face when dealing with student loan services.

Feel

Students should feel empowered after researching this topic. We want to prepare first time loan

seekers to the point they are skillfully capable of choosing a loan that will suit their needs.

Do

We want students to look into their options as soon as they know they will be going to college.

Basic research and implementation of the study skill techniques communicated in our

communication strategy.
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Student Debt Crisis

Key Messages

The information we intend to provide is for students curious about continuing education.

The following key messages that this team wants the target audience to retain are:

Educate yourself on your options regarding choice of school/ tuition costs for Major selected.
Create checklist/ reminders of key dates for admissions.
Take control and ask questions. Get the information that will help you select what is right for

you.
Follow up your timeline of when to apply and due dates during the admission process.

Channels / Media

In selecting the channels for this communication campaign, this team has considered the

nature of the message, its purpose, the channels available to the target audience, and how the

audience consumes information. Based on these criteria, the team has selected the following

channels:

Digital poster (Rodrigo): the posters intention will be to inform any first-time student of the

teams key messages as well as what to ask and how to get the answers needed to make the right

decision about funding their education.

Informational Website (Tashina): An educational website that provides student loan data and an

admissions checklist.
Social Media Page (Michael): An informational social media posting / page will be created for

the student to reference when evaluating college financial options.

Tactical Planning

Using the right channels at the right time is vital in delivering the information about its

campaign efficiently and effectively to its audience. Below is how this team plans to meet the

required:
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Student Debt Crisis

Who (Audience) What (Message) How (Channel) When (Timing)

First-time students Clear statement of Digital Provided upon

going to college key messages. Posters application for
Overcome the fear enrollment
of not knowing, ask all
your questions.

First-time students Clear statement of Website Provided upon

going to college key messages. application for
Checklist for enrollment
admissions follow up

First-time students Financial options and Social Media Resource to be

going to college resources to consider for Page used when
college finances. evaluating college
financial options.

Conclusion

In order for an individual to make educated choices regarding continuing education, they

must begin with asking what is the right choice for them. Maintaining diligence to your specific

timeline and exploring the options available will build confidence and aid in the decision

making. Remaining inquisitive and adaptable keeps a student open to new possibilities at school,

work and in life.

References
U.S. Student Loan Debt Statistics for 2017. (2017, April 06). Retrieved April 06, 2017, from
https://studentloanhero.com/student-loan-debt-statistics/