Glasgow Daily Times, Glasgow, KY

Local News

July 5, 2012

Loan debt for Ky. students growing

GLASGOW — During the 2010-11 school year, Kentucky students borrowed a record $1.2 billion for higher education, and the average student will spend a decade paying approximately $200 per month in order to pay off their loans, according to a Businessweek news release.

The Kentucky Higher Education Assistance Authority (KHEAA) presented its data at a recent Kentucky Council on Postsecondary Education (CPE) meeting, and the data indicated college students in the state currently owe an average of more than $19,000 each, and student debt is growing at a rate four times greater than the state’s gross domestic product (GDP).

“One problem is that today’s students have stopped working and are taking out more loans to pay for school,” said Whitney Hall, financial aid counselor for Western Kentucky University’s regional campuses. “They now are using student loans to pay for living expenses. When I was in school a lot of people worked to put themselves through college. That’s not the case anymore.”

Hall said one way to prevent such debt is to meet with an adviser and only accept loans to cover the cost of tuition and books.

“Now it’s gone towards people taking out loans instead of working and going to school,” Hall said.

Ted Franzeim, senior vice president for KHEAA, said in the release that student debt is a growing issue — an issue that doesn’t have an end in sight.


For the full story, read Friday's print or e-Edition of the Glasgow Daily Times.

Text Only
Local News
AP Video
The Carbon Trap: US Exports Global Warming UN Security Council Calls for Gaza Cease-fire Traditional African Dishes Teach Healthy Eating 13 Struck by Lightning on Calif. Beach Baseball Hall of Famers Inducted Israel, Hamas Trade Fire Despite Truce in Gaza Italy's Nibali Set to Win First Tour De France Raw: Shipwrecked Concordia Completes Last Voyage Raw: Sea Turtle Hatchlings Emerge From Nest Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Seasonal Content