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Total education borrowing increased 5% from 2007-08 to 2008-09 — a slight decline after adjusting for inflation. An increase of $14.7 billion in federal loans was accompanied by an estimated decline of about $10.6 billion in nonfederal loans. |
Note: Perkins Loans and other small federal loan programs are not included. Percentages may not sum to 100 due to rounding.
Download Excel for this figure. Download Excel for all figures and tables. This figure was prepared in October 2009. - Nonfederal loans increased from about 9% of total education borrowing in 1998-99 to about 25% in 2007-08, but declined to an estimated 13% in 2008-09.
- Subsidized Stafford Loan volume was
50% higher than unsubsidized volume in
1998-99 and 12% higher in 2003-04. By
2008-09,
unsubsidized Stafford Loan volume exceeded subsidized volume by 22%.More
- Borrowing by parents of dependent students
through the PLUS Loan program constituted
9% ofeducation borrowing in 1998-99 and 8% in 2008-09, but rose to 11% from 2003-04 through 2005-06.More
- Through 2005-06 PLUS Loans
were available only to parents of undergraduate students.As of 2006-07, graduate students may also borrow up to the cost of attendance less other aid received through the federal PLUS program.More
