July 15, 2005
Report: Student Borrowing Is Up
The percentage of students who use loans to pay for college and the median amounts they borrow have risen sharply since the early 1990s, according to a new report from the American Council on Education.
From 1992-93 to 2003-4 the number of student loans made annually increased from 4.8 million to 10.8 million and the total amount borrowed each year rose from $19.8-billion to $50.5-billion, the report says. Those increases occurred in large part, it says, because of changes made during
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