Education is as expensive as it is important for career success. Making knowledge more accessible to students, a system of loans has been introduced that allows students to obtain education and repay their debts after graduation. Default: The Student Loan Documentary focuses on the dramatic financial situation faced by the modern student generation. As a result of ill-conceived loan policy and insufficient awareness about the loan repay procedure, many students find themselves bankrupt in face of a growing loan to be repaid.
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The documentary features personal student stories, as well as professional comments from the Student Loan Justice official, emphasizing that it is rather corporate than personal irresponsibility to blame for the existing situation (Default). Annually borrowing around $20.000, an average student has to repay three times as much in the end. This situation results from the uncontrolled interest policy and lack of exact information provided to the students about their financial operations. The majority of students often cannot tell their interest rates or even who the lender is.
The major message of the documentary is that despite the necessity of education in modern society, ultimate attention should be paid by students to issues of financial security during their studies.
Default: The Student Loan Documentary. Dir. Aurora Meneghello. Prod. Serge Bakalian. Krotala Films, 2009. Film.