Seven in 10 college students graduate with loan debt
By Catholic Online (NEWS CONSORTIUM)
12/5/2013 (3 years ago)
Catholic Online (www.catholic.org)
There was a time in America when graduating from college meant freedom and unlimited vistas. A sheepskin in the hand was the ticket to new challenges and rewarding careers. That's not true for seven out of 10 college students, who now are burdened with student loan debt to the tune of $29,000 - which is more than someone's annual income just starting out.
An independent analysis of federal data has revealed that more than 70 percent of college graduates in 2012 had student loans.
LOS ANGELES, CA (Catholic Online) - An independent analysis of federal data has revealed that more than 70 percent of college graduates in 2012 had student loans. Both figures were higher in a comparable survey of graduates four years earlier.
The Institute for College Access and Success reports that 71 percent of the class of 2012 had debt at graduation, up from 68 percent for the class of 2008. In addition, the average debt of $29,400 was up from $23,450 in 2008, indicating that for many students, public and private grants are not keeping pace with rising tuition.
"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," Rep. George Miller of California, the ranking Democrat on the House Education and the Workforce Committee said.
"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."
Included in the data was loan figures voluntarily reported by about 1,000 colleges.
Not including loans from parents and other relatives, figures listed 20 "low debt" colleges and universities. Among them were Hampton University in Virginia, with average debt of $9,597, and Gallaudet and Howard universities in the District, with average debt of $10,347 and $10,136, respectively.
Several public and private colleges were described as "high debt" institutions; One in Maryland was Morgan State University, with an average student debt of $36,086, and one in Virginia was Regent University, with average debt of $45,326.
Copyright 2017 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for JUNE 2017
National Leaders. That national leaders may firmly commit themselves to ending the arms trade, which victimizes so many innocent people.
Finding the right College
There's no magic formula for choosing a college, but there are steps you can take to find a good fit. Use this tool to start your journey.
Latest College News
One hundred and seventy-nine years ago, two Jesuit priests sold 272 persons at a slave auction. Their families were torn apart: many of ... continue reading
(Vatican Radio) Pope Francis on Friday visited one of Rome's major institutions of higher education today: the UniversitÃ degli ... continue reading
The UCLA campus has been put on lockdown after reports of a shooter in the university's Boelter Hall were released via social media. ... continue reading
In a move reminiscent of the early 1900s, North Carolina State University segregated a student Christian group from the rest of the student ... continue reading
St. Mary's University in Twickenham, London has been formally approved to name one of their buildings after Benedict XVI. LOS ANGELES, CA ... continue reading
by Catholic Online
- 'Half-Man-Half-Beast sent by the Devil' sparks fear in South African ...
- Daily Readings for Sunday, June 25, 2017
- St. William of Vercelli: Saint of the Day for Sunday, June 25, 2017
- The end of the farm as we know it has arrived - here's how we're ...
- How a Catholic should deal with Tinder and other dating apps
- Daily Reading for Tuesday, June 27th, 2017 HD Video
- Daily Reading for Monday, June 26th, 2017 HD Video
- Daily Reading for Sunday, June 25th, 2017 HD
- Pope Francis prepares an incredible gift of love and solidarity for South Sudan HD
- St. Emma HD
- Daily Reading for Saturday, June 24th, 2017 HD