Report: 70 Percent of Students Graduate With Loans

December 5, 2013
Washington Post 
student loan news

According to an independent analysis performed by the Institute for College Access and Success, 71 percent of last year's graduates owed student loans -- up from 68 percent who graduated with debt in 2008. They were $29,400 in the hole, on average, in 2012 compared to $23,450 four years earlier.

"This new analysis provides a wake-up call for federal lawmakers to take a closer look at the impact of student debt on our recovering economy,"declared Rep. George Miller (D-Calif.). "With more students borrowing more money than ever before, a generation of young adults will be forced to put important life decisions like buying a home on hold while they pay back their loans, constraining their ability to contribute to a robust economic rebound." The Oakland, Calif.-based institute based its findings on a quadrennial report of federal data from a survey of student aid as well as on student loan statistics reported on a voluntary basis by an estimated 1,000 colleges.

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