A new law in Indiana mandates public universities to inform students in an email or letter every year about how much they owe in students loans. Governor Pence signed the bill in July. It was inspired by Indiana University, which started the practice in 2013, telling students how much they had borrowed, the interest rate and estimated cost each month after graduation. The goal is to make sure students understand the future ramifications of what they will owe, so they don't take out more loans than they really need.
