| Author(s): | Carey, K., and Dillon, E |
| Title: | Drowning in debt: The emerging student loan crisis |
| Source: | http://www.educationsector.org/usr_doc/CYCT_Stu... |
| Date: | 2009 |
| Organization: | Education Sector |
| Short Description: | This report contends that if high college costs continue to force students to borrow more money and take on riskier (private) loans the consequences will be severe: reduced access to higher education, diminished life choices, and increasing rates of catastrophic loan default. |
| Annotation: | The price of attending a public university doubled,
after inflation, over the last two decades, and
family income and student financial aid haven’t kept
pace. As a result, students have no choice but to borrow,
and more college students are borrowing more money
than ever before. A new analysis of federal financial aid records reveals students are taking on more of the riskiest debt: unregulated private student loans. Minority college students appear to be borrowing a disproportionate share. If this continues, the consequences will be severe: reduced access to higher education, diminished life choices, and increasing rates of catastrophic loan default. |
| Link: |
View Full Text
|
