Average Total Loans For All Graduates(2008 Dollars; *Approximate Values)
Associate degree & Certificates
Source: Nat'l Ctr. For Education Statistics, PEWresearch, December 2010
Among 2008 graduates who borrowed, the average loan for bachelor's degree recipients was more than $23,000, compared with slightly more than $17,000 in 1996. For associate's degree and certificate recipients, the average loan increased to more than $12,600 from about $7,600.
More college students are attending private for-profit schools, where levels and rates of borrowing are highest. Over the past decade, the private for-profit sector has expanded more rapidly than either the public or private not-for-profit sectors. In 2008, these institutions granted 18% of all undergraduate awards, up from 14% in 2003. Students who attend for-profit colleges are more likely than other students to borrow, and they typically borrow larger amounts.
Levels and rates of borrowing are typically highest at private, not-for-profit schools. During the past decade, the private for-profit sector has expanded more rapidly than either the public or private not-for-profit sectors. In 2008, these institutions granted 18% of all undergraduate awards, up from 14% in 2003.
Share of 2008 Graduates Borrowing More than $30,000 (2008 Dollars)
Source: Nat'l Ctr. For Education Statistics, PEWresearch, December 2010; *Sample size too small.
Other key findings from the Pew Research Center analysis:
Borrowing patterns persist within fields of study. For almost every field of study at every level, students at private for-profit schools are more likely to borrow and tend to borrow larger amounts than students at public and private not-for-profit schools, concludes the report.
And, from the NRA "2010 Back to School Consumer Intentions and Actions Survey," quoted by Marketing Charts, besides tuition, college students are spending more on back-to-college merchandise in 2010. Spending is expected to total $33.77 billion, up 12% from $30.08 billion in 2009 and 8% from $31.26 billion in 2008.
For additional information from PEWresearch, please visit here.