Indicator 3.7Student loan debt burden of graduating seniors (inflation-adjusted), Universitywide, 1999-2000 to 2010-11
While the proportion of students graduating with student loan debt has fallen slightly (from 52.7 percent in 2000-01 to 49.8 percent in 2010-11), the average inflation-adjusted debt at graduation of student borrowers has increased 10.4 percent (from $17,007 to $18,779).
Roughly one-half of UC undergraduates graduate with no debt at all. For those who do borrow, the average student loan debt at graduation in 2010-11 was about $19,000. The monthly repayment for this amount is about $208 for 10 years at the 6 percent average interest rate that typically applies to student loans. Lower payments are available with longer repayment periods.
Student borrowing decreased from 1999-00 through 2008-09 for students in nearly every income category. More recently, borrowing has increased slightly among middle- and upper-income students. The recent uptick in borrowing may reflect a combination of higher costs and a reduction in other borrowing alternatives (e.g., home equity loans).Source: UC Corporate Student System1
1Figures adjusted for inflation in 2010 dollars. Borrowing shown here represents loans coordinated through the campus financial aid offices; some families also borrow from outside sources, which is not captured in this indicator.