May 21, 2011, Fremont News-Messenger
By Jessica Alaimo
Special to the News-Messenger
COSHOCTON – Peter Madsen graduated from the University of Wisconsin in 1978 with $1,500 in student loans. His parents didn't help him pay for school.
The Coshocton father started saving for his sons' college education when his oldest, Michael, was in second grade. Michael was accepted into Ohio Northern University with grant money. Nonetheless, he graduates this year with almost $20,000 in loans to pay back. Michael's brother, Matthew, a sophomore at Ohio Northern, will have a similar burden. Both are majoring in graphic arts.
Not only are this spring's college graduates more likely to enter adulthood deeper in the red, but with a historically poor economy providing fewer jobs, they are more likely to default on their loans within three years.
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