II. Student Borrowing Increases
College students who graduated in 2008 borrowed substantially more than students who graduated in 1996. In 2008, bachelor’s degree recipients borrowed $15,425 on average, compared with $10,138 for 1996 graduates. Borrowing by associate’s degree and undergraduate certificate recipients doubled, to $6,649 in 2008 on average from $3,318 in 1996 (all figures expressed in 2008 dollars). […]