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Student Debt: Impact On Student Choices, Kelsey Cavanaugh
Student Debt: Impact On Student Choices, Kelsey Cavanaugh
Celebrating Scholarship & Creativity Day (2011-2017)
In 2010 student loans became the second largest portion of US debt. Today, the estimated total is 1.4 trillion. Over the last decade the average debt per student has increased 56%, which is double the inflation rate for that period. The graduating class of 2014 left college with an average of about $29,000 of debt. Lastly, the number of federal borrowers today is 7.5 million and growing. This presentation examines how student debt affects students’ spending choices after college and what has changed in these patterns over the last decade.