Borrowing to Learn
By Kent Wolfe, National Student Loan Program, Research Unit

Many throughout the student aid community have wondered how much student loan debt the average student accumulates prior to graduating from a postsecondary institution. Many studies have tried to answer this question, but due to limited data sources (e.g., a study may be based on a single servicer’s portfolio), a broadly representative estimate has been difficult to pinpoint.

The Department of Education (ED), via the National Postsecondary Student Aid Surveys (NPSAS), has helped resolve this quandary by compiling and making available nationally representative data every few years. The most recent NPSAS surveyed part-and full-time undergraduate students who attended postsecondary institutions during 1999-2000.

The survey found that 46% of all undergraduate students enrolled in 1999-2000 had accumulated student loans ranging from $50 to $80,000. Focusing only on those who borrowed prior to completing their undergraduate programs in 1999-2000, average student loan debt was:

• $14,729 for those who completed any program.
• $18,193 for those who earned a Bachelor’s degree.

On a state level, NPSAS shows that surveyed students who attended Texas institutions in 1999-2000 accumulated average student debt totaling:

• $14,154 for those who completed any program.
• $17,987 for those who earned a Bachelor’s degree.

ED is currently working on gathering updated data via the 2003-2004 NPSAS. When this is released in late calendar year 2004 or in 2005, it will be intriguing to see how the 1999-2000 indebtedness figures compare to those for the current year’s graduates.

If you are interested in how NPSAS compiled this information, or if you are interested in any other student aid data from NPSAS, you can contact Kent Wolfe at NSLP, 800-735-8778 x6940.