College Students Borrowing More to Stay in School
Wednesday, December 08, 2010
College graduates today are starting out with considerably more debt than their counterparts who finished school in the mid-1990s, thanks to the need to borrow more student loans than before. The Pew Research Center reported in a new study that 65% of 2008 graduates had borrowed some amount for college, compared with 51% in 1996. The average amount borrowed among the ’08 grads with bachelor’s degrees was $23,287, compared to $17,075 in 1996. Those earning associate’s degrees and certificates averaged more than $13,321 in loans, up from about $7,751 in 1996.
The Rise of College Student Borrowing (by Rebecca Hinze-Pifer and Richard Fry, Pew Research Center)
Report: The Rise of College Student Borrowing (by Paul Taylor, Richard Fry, Rebecca Hinze-Pifer and Daniel Dockterman, Pew Research Center) (pdf)
Student Loan Debt Passes Credit Card Debt for First Time (by Noel Brinkerhoff, AllGov)
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