Recent study showed that over the past decade the amount of graduating seniors’ loan debt increased to 108 percent nationally. Approximately 54 percent of CSUN students have taken out federal loans, according to Gregorio Alcantar, a financial aid advisor. About 20 percent of all private loans are being used nationwide by four-year college undergraduates, graduate students and parent loans found the institute.
Although federal loans are available for students who fill out their FAFSA regardless of their income, government representatives are considering raising the amount students can borrow, according to Edie Irons, TICAS communications director. Irons believes the government should step in and rescue the students. Adding that financial aid is attractive to students who want to avoid taking out a federal loan, much less a private loan.
During the past five years tuition and fees at public universities have risen by 57% nationally. This semester, students did get the money they were promised by Cal Grant if they were eligible but the payments were delayed due to a lack of funding from the state.
While a recent report made by the California Faculty Association, shows that nearly 2.6 million Californian undergraduate students faced an average of $1,723 per student. Tution and fees at public universities have risen 57 percent nationally. Even though eligible students get money from Cal Grants, the payments were delayed due to a lack of state funding.
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