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Fast Facts

In 2003, the private sector student loan program raised and lent $34 billion to more than 5 million students and their parents.

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SOURCES

  • Advisory Committee on Student Financial Assistance, “Access Denied: Restoring the Nation’s Commitment to Equal Educational Opportunity,” February 2001

  • American Council on Education, “Crucial Choices: How Students Financial Decisions Affect Their Academic Success,” June 2002

  • Bankrate.com – Commercial Loan Rates, August 7, 2003

  • The Chronicle of Higher Education – Almanac Issue 2001-02

  • The College Board “Trends in Student Aid 2002”

  • The College Board “Trends in College Pricing 2002”

  • Education Finance Council, EFC Weekly, Nov. 18, 2002

  • The Educational Testing Service, “Crossing the Great Divide,” Carnavale and Fry

  • Employment Policy Foundation

  • Institute for Higher Education Policy, "Private Loans and Choice in Financing Higher Education," July 2003

  • National Association of Student Financial Aid Administrators – Summary of SUFAPP Results, May 21, 2002

  • The National Center for Public Policy and Higher Education, “Losing Ground: A National Status Report on the Affordability of American Higher Education”

  • National Council of Higher Education Loan Programs

  • 2001 Nellie Mae Credit Card Study

  • Octameron Associates

  • Postsecondary Education Opportunity

  • The State PIRGs’ Higher Education Project, “At What Cost? The Price That Working Students Pay for a College Education”

  • U.S. Department of Education, Budget for Fiscal Year 2004, Appendix

  • U.S. Department of Education “Direct Loan Participating School Listing FY1Q2002,”
    School listing effective December 31, 2001

  • U.S. Department of Education, National Center for Education Statistics,
    “Fall Enrollment in Colleges and Universities,” surveys

  • U.S. Department of Education, Office of Postsecondary Education,
    “Federal Campus-Based Programs Data Book,” 2002

  • U.S. Department of Education, Office of Postsecondary Education,
    “Federal Student Loan Programs Databook,” FY 1997-2000, Tables 1, 5, 6, 49

  • U.S. Department of Education, Testimony of Deputy Secretary, William Hansen,
    Before the U.S. Senate Committee on Health, Education, Labor and Pensions, May 9, 2002

  • U.S. Department of Labor – Bureau of Labor Statistics (BLS) “Working in the 21st Century”

  • U.S. Office of Management and Budget, Fiscal Year 2004 Budget of the United States,
    Analytical Perspectives, February 2003

  • Western Interstate Commission for Higher Education, 1998 Report “Knocking at the College Door: Projections of High School Graduates by State and Race/Ethnicity 1996 – 2012”