Published Oct 4, 2005
In the 2003-2004 academic year, nearly 8,000 loans-- - totaling more than $50 million- - were taken out by TCU students, according to a report from the Texas Guaranteed Student Loan Corp., a nonprofit agency that coordinates transactions between schools and banks in Texas.The report states that the average loan each student takes out for the year was more than $11,000.
The number of students borrowing money to pay for school, and the amount they are borrowing, has more than doubled in the last 10 years, according to a new report from the American Council on Education.