News

Statistically Speaking

On Feb. 8, the House of Representatives approved a bill that would establish a federal list of the nation’s most expensive colleges and increase the maximum Pell grant. The bill aims to make colleges more affordable and more easily accessible to students of all financial backgrounds. Here are some statistics on the ways in which students pay for college:

Percentage of students entering college with a credit card in 2006: 75

Amount provided in private loans for the 2006–2007 school year: $14 billion

Average student loan debt after attending a private four-year college: $29,000

Average student loan debt after attending a public four-year college: $26,119

Percentage growth of students taking out private loans from 2006 to 2007: 30

Sources: [SLANT12]www.amsa.com[SLANT12], [SLANT12]collegeboard.com[SLANT12]