Students take out more loans because grants are scarcer
The average student debt load has doubled to more than $23,000 in the last dozen years. That financial burden affects many life choices for college graduates - including careers, major purchases, and family and child-rearing decisions.
Edie Irons, a spokeswoman for the Project on Student Debt, says the problem has grown because loans have largely replaced grants as a form of student financial aid.
Edie Irons: “Tuition has risen faster than inflation, faster than consumer prices and wages, and most other costs, perhaps except health care costs. So, tuition increases are definitely out of whack with the rest of the economy.”
Irons’ project is affiliated with the non-profit Institute for College Access and Success. She told KPCC’s Patt Morrison that many states’ budget cuts have made education grants harder to obtain.
Join our community: Like KPCC on Facebook and follow us on Twitter to get updates and talk about the day's news with other fans.
- Obama's budget salvo opens next political fight
- Battling the bottle: Students and industry face off over water
- Strong in 2010, where is the Tea Party now?
- Romney edges a victory in Maine caucuses » More U.S. News
