Study: One-Third Of Student Loan Borrowers Didn’t Finish College
NEW YORK (UPI) — Student loan debt has increased to the point that one in five U.S. adults, one-third of them not college graduates, owe money on student loans, a study says.
A study by the Urban Institute says the average student loan debt grows by $1,000 each year, 19.6 percent of adults 20 or older owe money on student loans and 57 percent say they are concerned about repayment.
One-third of the debtors never graduated from college, the study said.
Congress is debating whether to allow the interest rate on a popular federal student loan program to double beginning July 1, CBS/MoneyWatch reported Friday.
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