Writing for the Huffington Post, Shahien Nasiripour reports that “Borrowing for College Is Set to Hit a Five Year Low.” More specifically, for the first time since the 2009-2010 academic year, student loans are likely to total less than $100 million.
That sounds like good news. But it actually reflects very little change. In fact, the best that can be said is that the numbers do not appear to be getting dramatically worse.
First, the student loan total had edged over $100 million in the last two years. So even though the figure sounds like a major benchmark, a decline just slightly below that benchmark represents only a slight decline in borrowing.
Second, much of the decline is due to a slight decline in the total enrollment for the coming academic year. This decline will continue the trend of the last five years, during which total enrollment has declined by…
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