COE - Loans for Undergraduate Students

COE – Loans for Undergraduate Students

Postsecondary Education

Loans for Undergraduate Students

In 2018–19, some 43 % of first-time, full-time diploma/certificate-seeking undergraduate students had been awarded loan help, a 7 proportion level lower from 2010–11 (50 %). Between 2010–11 and 2018–19, the typical annual student loan quantity for these students decreased by 5 %, from $7,700 to $7,300 (in fixed 2019–20 {dollars}).

To assist offset the price of attending a postsecondary establishment, Title IV of the Higher Education Act of 1965 licensed a number of student monetary help applications—specifically, federal grants, loans, and the Federal Work-Study Program. The largest federal loan program is the William D. Ford Federal Direct Loan Program, for which the federal authorities is the lender. Interest on the loans offered beneath the Direct Loan Program could also be backed, based mostly on want, whereas the recipient is at school. Other forms of student loans embody institutional loans and personal loans. The normal loan reimbursement plan is designed in order that loans are payable inside 10 years, starting 6 months after the student graduates, drops under half-time enrollment, or withdraws from the educational program.

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Figure 1. Average annual undergraduate tuition and charges for full-time students at degree-granting postsecondary establishments, by stage and management of establishment: Academic years 2010–11 by means of 2019–20
Figure 1. Average annual undergraduate tuition and fees for full-time students at degree-granting postsecondary institutions, by level and control of institution: Academic years 2010–11 through 2019–20

Figure 2. Percentage of first-time, full-time diploma/certificate-seeking undergraduate students who had been awarded loan help at degree-granting postsecondary establishments, by stage and management of establishment: Academic years 2010–11 by means of 2018–19
Figure 2. Percentage of first-time, full-time degree/certificate-seeking undergraduate students who were awarded loan aid at degree-granting postsecondary institutions, by level and control of institution: Academic years 2010–11 through 2018–19

Figure 3. Average annual loan quantities for first-time, full-time diploma/certificate-seeking undergraduate students who had been awarded loan help at degree-granting postsecondary establishments, by stage and management of establishment: Academic years 2010–11 by means of 2018–19
Figure 3. Average annual loan amounts for first-time, full-time degree/certificate-seeking undergraduate students who were awarded loan aid at degree-granting postsecondary institutions, by level and control of institution: Academic years 2010–11 through 2018–19

Figure 4. Percentage of undergraduate diploma/certificates completers who ever obtained loans, by diploma sort and management of establishment: Academic 12 months 2015–16
Figure 4. Percentage of undergraduate degree/certificate completers who ever received loans, by degree type and control of institution: Academic year 2015–16

Figure 5. Average cumulative loan quantity for undergraduate diploma/certificates completers who ever obtained loans, by diploma sort and management of establishment: Academic 12 months 2015–16
Figure 5. Average cumulative loan amount for undergraduate degree/certificate completers who ever received loans, by degree type and control of institution: Academic year 2015–16

Supplemental Information

Table 330.10 (Digest 2020): Average undergraduate tuition, charges, room, and board charges charged for full-time students in degree-granting postsecondary establishments, by stage and management of establishment: Selected years, 1963-64 by means of 2019-20;

Table 331.20 (Digest 2020): Full-time, first-time diploma/certificate-seeking undergraduate students enrolled in degree-granting postsecondary establishments, by participation and common quantity awarded in monetary help applications, and management and stage of establishment: 2000-01 by means of 2018-19;

Table 331.95 (Digest 2020): Percentage of undergraduate diploma/certificates completers who ever obtained loans and common cumulative quantity borrowed, by diploma stage, chosen student traits, and establishment management: Selected years, 1999-2000 by means of 2015-16;

Table 331.20 (Digest 2019): Full-time, first-time diploma/certificate-seeking undergraduate students enrolled in degree-granting postsecondary establishments, by participation and common quantity awarded in monetary help applications, and management and stage of establishment: 2000-01 by means of 2017-18;

Table 331.20 (Digest 2018): Full-time, first-time diploma/certificate-seeking undergraduate students enrolled in degree-granting postsecondary establishments, by participation and common quantity awarded in monetary help applications, and management and stage of establishment: 2000-01 by means of 2016-17;

Table 331.20 (Digest 2017): Full-time, first-time diploma/certificate-seeking undergraduate students enrolled in degree-granting postsecondary establishments, by participation and common quantity awarded in monetary help applications, and management and stage of establishment: 2000-01 by means of 2015-16

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