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$16,928; average debt for graduating seniors
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Period: to
Private student debt increases 30%
From 2004- 2005, Private student debt increases 30% -
36% of borrowers who entered repayment became delinquent
36% of borrowers who entered repayment became delinquent -
$19,232 average deabt for graduating seniors
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Amendments to bankruptcy code made student debt nearly impossible to discharge
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Period: to
The cost of private college rose 5.9%
From 2007 to 2008, the cost of private college rose 5.9% -
60% of undergrad students take out loans
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Percentage of college students that have credit cards up 10% in 4 years
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Pres. Obama signs overall of the federal student loan system.
Fees to private banks were eliminated maximum Pell Grant values rose and low-income graduates would have more options to pay back loans -
$22,442; average debt for graduating seniors