ERIC Number: ED420228
Record Type: Non-Journal
Publication Date: 1995-Sep
Reference Count: N/A
College Debt and the American Family.
Education Resources Inst., Boston, MA.; Institute for Higher Education Policy, Washington, DC.
This report summarizes trend data on borrowing by students and parents to pay for college, and reports on a 1995 national survey of undergraduate students and their parents concerning student loan debt. Analysis of data from the National Postsecondary Student Aid Study found that there was an explosion in college borrowing in the 1990s; borrowing increased at a rate nearly three times that of college costs and four times that of personal incomes; college debt increased fastest for students at public colleges and universities. The survey indicated that students and families feel great anxiety about the burdens that student loans place on lifestyles, careers, and educational objectives; student loan debt is a very serious problem for a significant number of students and families; students and families have accepted borrowing to pay for college as a major aspect of their overall debt patterns; and the economic value of higher education remains a strong motivating factor for students and families. The report concludes that American families feel "locked in" to the American dream of a college education, which they see not as optional but as essential. The survey is included. (DB)
Descriptors: Debt (Financial), Educational Finance, Financial Support, Higher Education, Loan Repayment, National Surveys, Parent Attitudes, Parent Financial Contribution, Paying for College, Questionnaires, Student Attitudes, Student Financial Aid, Student Loan Programs, Trend Analysis
Education Resources Institute, 330 Stuart St., Suite 500, Boston, MA 02116-5237; phone: 800-255-TERI, ext. 4762; Fax: 617-451-9425; www.teri.org (free).
Publication Type: Information Analyses; Reports - Evaluative; Tests/Questionnaires
Education Level: N/A
Authoring Institution: Education Resources Inst., Boston, MA.; Institute for Higher Education Policy, Washington, DC.