- The Washington Times - Tuesday, April 21, 2009

BERKELEY, CALIF. (AP) - A study finds the number of college students taking out private student loans has risen sharply in recent years.

The report released Tuesday by the Berkeley, Calif.-based Project on Student Debt found that the percentage of all undergraduates who took private loans rose from 5 percent in 2003-04 to 14 percent in 2007-08.

At for-profit colleges and universities, the percentage of students taking out private loans jumped from 13 percent in 2003-04 to 42 percent in 2007-2008.

Lauren Asher, acting president of the Institute for College Access and Success, which runs the debt project, says the trend is worrisome because private loans are typically more expensive to pay back than federal student loans.

Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide