While many media reports have focused on a looming national student loan crisis, a research report by the Institute of College Access and Success took a closer look at this issue by identifying in which states students graduated with the highest and the lowest average loan debt in 2012.
Because higher education costs continue to increase, the demand for student loans is expected to increase as well. To meet that demand, more credit unions have been expanding their private student loan portfolios while more cooperatives have entered this growth market over the last few years.
For example, in 2011 only 375 credit unions offered private student loans. By the end of 2013, that number grew to 642, according to data compiled from NCUA 5300 Call Reports by student loan CUSO CU Campus Resources in Madison, Wis. By the end of 2014's first quarter, 655 cooperatives were providing private student loans to their members.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
