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Category: Project

Description: As student loan debt continues to rise, borrowers' understanding of long-term impact of interest rates and repayment plans becomes increasingly important. This project applies behavioral economic theories to data visualizations to bridge a gap between the fields. By leveraging insights into human decision-making and cognitive biases, we aim to enhance understanding of student loan repayment and support more informed financial choices through data visualization. We designed a study comparing the student loan repayment decisions made by those who received a visual aid and those who did not. The results of this experiment contributed to finding more effective ways in which data visualization can be used to help individuals understand the distant and abstract process of student loan repayment.