Student Debt Growing at Moderate Rate
The percentage of students borrowing money to pay for college continues to grow, but a large number of students either do not borrow at all or graduate with only modest amounts of federal student debt, says a report from the American Council on Education.
The report from the Washington-based higher education advocacy group derives its conclusions from a federal study of student aid that examined data from the 1992-93 academic year to 2003-04. It found that more than 60 percent of all recipients of bachelor’s degrees graduated with some debt from federal student loans. The median amount borrowed over the course of pursuing a bachelor’s degree was $14,671 for graduates of public institutions and $17,125 at private institutions.