Tuesday, September 1, 2009

Students Go For Less Affordable Loans

The PEW Charitable Trust reports that the loan crisis has had a negative impact on the student loan market.

As Student Debt Rises, More Undergraduates Go Straight to Most Dangerous Loans

Berkeley, CA - 08/25/2009 - In 2007-08, nearly two-thirds (64 percent) of undergraduate students who borrowed private student loans did not take out all they could in safer, more affordable federal loans, according to an analysis (PDF) released today by the Project on Student Debt. In addition, the proportion of all undergraduates who took out private loans increased dramatically – from five percent in 2003-04 to 14 percent in 2007-08.

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