Recent study shows student borrowing is on the rise

According to recent information published the by College Board on their website, the average amount of debt acquired by students during their college careers has increased, following an upward trend that has been consistent for several decades.

"I guess I am afraid of debt, but it's sort of necessary to get your foot in the door" said Angela Dela Cruz, sophomore. Dela Cruz estimated that she received a total of around $20,000 this year including grants and loans.

An annual census by the U.S. Government, known as the National Postsecondary Student Aid Study (NPSAS), puts together a highly comprehensive collection of college financial statistics and data.

The NPSAS reports on everything from average tuition costs to the amounts of financial aid received by students, and proves to be a crucial resource when looking at the trends of the collegiate world.

The most apparent of these trends is the rise in student borrowing, and consequently, student debt after graduation.

"Between 2003-2004 and 2007-2008, debt levels increased rapidly for students in the for-profit sector and for all of those earning certificates and two-year degrees," reported a College Board policy brief regarding the NPSAS. "However, the increase was relatively small for bachelor's degree recipients in public and private four-year colleges."

Over the last four years, Public four-year schools, like SSU saw a five percent increase in median student loan debt, which is relatively low compared to the astounding 30 percent increase felt by students in for-profit institutions.

While students in the public four-year system can be thankful they are seeing the low-end of the debt increase, the amounts being borrowed continue to rise, and have been doing so for quite some time.

A breakdown of some of the data released by the NPSAS puts the last ten years into perspective, after adjusting for inflation to match the value of today's dollar.

According to data published on the College Board's website, the average amount borrowed in 1997 through federal Stafford loans was around $17,238 per borrower, with a total of about ten million borrowers.


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