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College students are graduating with more debt than ever, a burden
affecting their lifestyle and job choice, shows a survey of 2,500 students in
several states. The survey was conducted by Nellie Mae, the nation's largest
non-profit provider of student loans.
The average total debt of
the students studied was $18,000vs. $8,200 in a comparative survey in 1991, the
Boston Globe reported Thursday (October 23, 1997).
Tuition and
fees at public and private colleges have increased an average of 25% for the
period, and more of today's financial aid is in the form of loans rather than
grants.
Because of their debts, an increasing number of
students are putting off such things as buying a car or a house, or moving out
of their parents' house, the study found.
Most students
surveyed were in Massachusetts, New York, California, where the cost of college
typically is higher than in other areas.
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