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ERIC Number: ED418647
Record Type: Non-Journal
Publication Date: 1998-Feb
Pages: 57
Abstractor: N/A
Higher Education. Students Have Increased Borrowing and Working To Help Pay Higher Tuitions. Report to the Honorable Carol Mosely-Braun, U.S. Senate.
General Accounting Office, Washington, DC. Health, Education, and Human Services Div.
This report analyzes data from the National Postsecondary Student Aid Study for 1992-93 and 1995-96. The study found that students have turned increasingly to borrowing to cope with rising education costs. The percentage of postsecondary students who borrowed to complete a bachelor's or lower degree increased from 41 percent in 1992-93 to 52 percent in 1995-96 and the average amount of debt per graduating senior who had borrowed rose from $10,100 to about $13,300. The percentage of graduates with $20,000 or more of student debt grew from 9 percent to 19 percent during the period. Students attending 4-year public institutions showed the largest increase in the number of borrowers. Higher borrowing levels were especially pronounced at professional schools, where average debt among borrowers climbed from $45,000 in 1992-93 to nearly $60,000 in 1995-96. Additionally, more than two-thirds of full-time undergraduate students held jobs during 1995-96, working an average of 23 hours a week while enrolled. Tables, graphs, and narrative present the detailed data supporting these conclusions. Four appendices present: a description of the study's scope and methodology, additional data concerning postsecondary education debt and work during periods of enrollment, analyses of undergraduate work and borrowing patterns, and additional information on variation in average cumulative borrowing and work patterns among undergraduates. (DB)
U.S. General Accounting Office, P.O. Box 37050, Washington, DC 20013; phone: 202-512-6061 (First copy free, additional copies $2).
Publication Type: Reports - Evaluative
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: General Accounting Office, Washington, DC. Health, Education, and Human Services Div.