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Tuesday, May 30, 2006

Majority of college grads held back by debt

"The overall amount of student loan debt soared in the mid-1990s but has been relatively flat in recent years. King said she expects it to rise again after Congress voted to increase the limits on student borrowing from the federal government.

According to the College Board, private lending for student loans has exploded in the last decade, jumping from $1.3 billion in 1993-1994 to $10.6 billion in 2003-2004. Government lending for that year was $56.8 billion."

"2 of Three College Grads Go Into Debt"
Associated Press

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