"The percentage of students taking out private loans has increased by nine percentage points over the past five years, from 5 percent to 14 percent, according to a new analysis of Education Department data that was released last week," The Chronicle of Higher Education reports. "The biggest jump in borrowing occurred at for-profit institutions, where the share of students with private loans grew from 14 percent to 43 percent in the years from 2003-4 to 2007-8, according to the analysis, which was prepared by the Project on Student Debt. ... Among students taking out private loans, 26 percent did not use federal loans, up from 22 percent in 2003-4."

You can read the complete April 22, 2009 Chronicle of Higher Education article on-line.

Additional Media Coverage

Study Finds Sharp Increase in Private Student Loans Inside Higher Ed

Study: More undergrads take out pricey private student loans to pay for college Associated Press

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