In Debt Before You Start
This is a good article that appeared a few months ago in USA Today, titled "In Debt Before You Start":
Click here for story
After years of rising college costs and shrinking financial aid, it's come to this: Some graduates are now leaving college with student-loan debt in the six figures.
Graduates with more than $100,000 in debt still account for a small subset of borrowers. But their numbers are rising. And the proportion who are leaving college with some level of unmanageable debt — debt they can't repay without significant hardship — is swelling.
In 2004, nearly 8% of graduating seniors carried student loans of $40,000 or more, according to the Project on Student Debt, a non-profit advocacy group. In 1993, even adjusted for inflation, only 1.3% of college seniors had debt that large, says Robert Shireman, director of the project.
About 11% of graduates of private, non-profit colleges have loans of $40,000 or more vs. 5.5% for public colleges and universities, Shireman says.
Click here for story
After years of rising college costs and shrinking financial aid, it's come to this: Some graduates are now leaving college with student-loan debt in the six figures.
Graduates with more than $100,000 in debt still account for a small subset of borrowers. But their numbers are rising. And the proportion who are leaving college with some level of unmanageable debt — debt they can't repay without significant hardship — is swelling.
In 2004, nearly 8% of graduating seniors carried student loans of $40,000 or more, according to the Project on Student Debt, a non-profit advocacy group. In 1993, even adjusted for inflation, only 1.3% of college seniors had debt that large, says Robert Shireman, director of the project.
About 11% of graduates of private, non-profit colleges have loans of $40,000 or more vs. 5.5% for public colleges and universities, Shireman says.
posted by debtprisoner @ 10:10 AM
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