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Department of Education says increased loans reflect higher costs
WASHINGTON, Aug. 20 () -- Undergraduates using federal loans to pay tuition jumped by 10 percentage points from 2007-08 to 2011-12, a U.S. Department of Education report says.The Wall Street Journal reported Tuesday the sharp climb in students using federal assistance to pay for college is a reflection of climbing expenses.The increasing use of federal loans cuts across all income levels, the Journal said.For example, 18 percent of full time students from families with incomes of $60,000 to $80,000 received federal Pell grants for the 2011-12 school year. That was a considerable jump from 2007-08 when 2 percent in that income range received Pell assistance.The loans in the 2011-12 school year averaged $8,200, the report says. Meanwhile, the average cost of college -- tuition and fees at in-state four-year colleges climbed from $5,900 in 2007-08 to $7,700 in 2011-12, the report says."Clearly,[url=http://www.pachasvip.com]hollister clearance[/url], we can see over the last four years that a growing percentage of undergraduates and their families have relied upon aid ... from federal grants and loans. This reflects economic conditions and the rising cost of college," said Jack Buckley,[url=http://www.pachasvip.com]abercrombie outlet[/url], commissioner of the Department of Education's National Center for Education Statistics, which compiled the report.