Hanna
May 14, 2012, 12:50pm
461
<p>“Ms. Griffith, 23, wouldn’t seem a perfect financial fit for a college that costs nearly $50,000 a year.”</p>
<p>Forehead smack. Nope, she wouldn’t. Really, ONU?</p>
<p>
Ninety-four percent of students who earn a bachelor’s degree borrow to pay for higher education — up from 45 percent in 1993, according to an analysis by The New York Times of the latest data from the Department of Education. This includes loans from the federal government, private lenders and relatives.
Be careful BCEagle. Although there may not seem to be a direct correlation, there are plenty who say the government’s involvement is responsible for tuition increases. Just look at the figures over time.</p>
<p>Our global economic competitiveness is of the utmost priority. Increased regulation just increases prices, reduces foreign investment and hurts commerce. Graduates who are unemployed or underemployed are the ones at fault not the government or the F500. The problem is the worthless degrees out there. I know someone that got a degree in “Dance”. Her parents probably paid around 150k for this degree. What a waste. She now works at starbucks and lives at home.</p>
<p>
Ninety-four percent of students who earn a bachelors degree borrow to pay for higher education up from 45 percent in 1993, according to an analysis by The New York Times of the latest data from the Department of Education. This includes loans from the federal government, private lenders and relatives.
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<p>For clarification:</p>
<p>
Correction: May 16, 2012</p>
<p>An article on Sunday about college students debt, and an accompanying chart, misstated the percentage of bachelors degree recipients who had borrowed money for their education from the government, private lenders, or with the help of family members.</p>
<p>The article stated that the percentage had increased to 94 percent from 45 percent in 1993, based on data from the Department of Education, whose officials reviewed The Timess methodology before publication. While the percentage of students borrowing for college has indeed increased significantly, the 94 percent figure reflected an inaccurate interpretation of the data, which came from a survey of 2007-2008 graduates.</p>
<p>That survey showed that 66 percent of bachelors degree recipients borrowed from the government or private lenders; an additional percentage of graduates had family members who borrowed on their behalf or who lent them money, meaning that the total percentage with college borrowing increased to more than 66 percent. But the precise figure isnt known because the department survey did not address borrowing involving family members. (The earlier survey, of 1992-1993 graduates, found that just 45 percent of graduates had borrowed from all sources, including from family members.)
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