1987-88 Ph.D. Graduates: Half Have No Education Debt

Washington, D.C. -- Contrary to wide speculation, Ph.D. graduates are not "hopelessly encumbered with debt" by the time they complete their doctoral programs.

According to a new report from the National Research Council, 53 per cent of those who received doctorates in academic 1987-88 did not owe any money for their education. Among those who were in debt, the report says, 37 per cent owed less that $5,000, while only 4 per cent owed $30,000 or more.

Ph.D. graduates in