College Board: Student Debt Levels Rising But Manageable for Most

A College Board policy brief, “How Much Are College Students Borrowing?” reports that, while some college students are accumulating high levels of debt, these students remain the exception. 

Analyzing new data from the U.S. Department of Education’s National Postsecondary Student Aid Study, the College Board reported the following findings:

• Adjusted for inflation, median debt levels of borrowers with bachelor’s degrees increased to $19,999 from $18,973 during the period.
• The percentage of students who borrowed during the academic year rose to 54 percent from 50 percent during the period.
• Among all students who completed an undergraduate degree or certificate in 2007-2008, 41 percent graduated with no debt and only 6 percent incurred student loan debt of $40,000 or more.

The researchers caution that although “typical debt levels of college graduates are manageable for those who successfully enter the workforce, there is growing concern about the minority of students who borrow much more than average and who end up with unduly burdensome repayment obligations.”

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