Student debt is a hot-button issue for many at Iowa State, and a forum took place Thursday night to discuss it. 

Students gathered to discuss the student-debt crisis affecting many universities across America. The Ethics of Debt symposium is a three-day event that started Thursday night with a student forum discussing the issue.

About 100 students and community members came to the Great Hall of the Memorial Union at 7 p.m. The forum started with a short film, documenting the lives of various people who had student debt after graduating college. A discussion followed and audience members were allowed to ask questions about the ethics of debt, as well as give their own opinions on the subject, to a five-member panel.

In an interview before the forum, William Carter, assistant professor of world languages and culture, and Kate Padgett-Walsh, assistant professor of philosophy and religious studies, talked about the reasons why they took part in creating the event. Padgett-Walsh said they wanted to open up a conversation about debt and see what concerns students had about it.

“It only becomes relevant when you have to go back,” Carter said in regard to the issue of getting a loan without realizing how it could impact someone down the road.

The video shown was “Default: the student loan documentary,” and was first aired on PBS in 2011. The film was based on multiple adults who were dealing with massive amounts of student debt.

“Default” explored the world of private loans and focused on how debts were increasing because of compound interest. This led to a discussion among students and speakers, although most of the questions asked were more focused on ISU facts and issues.

One of the first questions was about the percentage of ISU students who graduated with student debt, how many of them defaulted and how much their debt was. Roberta Johnson, director of financial aid at Iowa State, said that as of 2014, 62 percent of students graduate with debt, and 5.1 percent of those students default on their loans.

The average amount of debt was $28,842. Johnson also said a high number of students who defaulted did not finish their degree.

There were various questions about what Iowa State is doing compared with what students should be doing, to minimize debt. Jonathan Fox, director of the ISU Financial Counseling Clinic, said students need to make sure they are budgeting. Tom Hill, senior vice president for Student Affairs, said students should take responsibility upon themselves.

“Live like a student,” Hill said, adding that students should keep track of how much they spend on non-school expenses.

Students had the opportunity to learn more about the ethics of student debt at lectures and discussions Friday and Saturday. Several speakers were brought in from universities across the United States who covered a wide range of topics involving the ethics of student debt.