Of undergraduate students exactly who obtain government figuratively speaking to fund an effective Bachelor’s training, more 95% obtain for around several years.
On average, 85% away from undergraduate students just who borrowed a backed Federal Direct Stafford financing as well as lent a keen unsubsidized paid Federal Direct Stafford financing, based on research from the 2015-2016 NPSAS. Additionally, 85% from undergraduate people just who lent a keen unsubsidized Federal Head Stafford mortgage in addition to lent a sponsored Federal Head Stafford loan.
Hence, the average scholar who borrows for a great Bachelor’s education commonly graduate with seven.5 or maybe more Government Lead Stafford loans, and additionally each other backed and you can unsubsidized fund.
Regarding eleven% also borrow institutional otherwise individual figuratively speaking and you will on the six% use organization otherwise individual student loans in place of federal figuratively speaking. (more…)