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Key drivers include increases in the number of borrowers and average loan size, shifts toward for-profit school enrollment, higher default incidence, and greater participation in income-driven repayment plans.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/research-report/","Research & Report",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/the-volume-and-repayment-of-federal-student-loans-1995-to-2017-report/583618/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/the-volume-and-repayment-of-federal-student-loans-1995-to-2017-report/583618.png","ImageObject",300,407,{"name":42,"@type":43},"Jacob","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-29","2026-10-15",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",5,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What period does the report cover, and what does it say about debt growth?","Question",{"text":63,"@type":64},"The report examines 1995 to 2017. It finds the balance of outstanding federal student loan debt increased more than sevenfold, from $187 billion to $1.4 trillion (in 2017 dollars).","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How did student loan borrowing volume change between 1995 and 2017?",{"text":68,"@type":64},"It grew through increases in both the number of borrowers and the average size of loans. New loans issued per year more than doubled, and average loan size rose alongside enrollment and tuition changes.",{"name":70,"@type":61,"acceptedAnswer":71},"Which policy and borrower-behavior factors contributed to higher outstanding loan balances?",{"text":72,"@type":64},"The report highlights increased defaults and expanded participation in income-driven repayment plans, alongside changes in loan limits, interest rates, and repayment plans that affected borrowing and repayment outcomes.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},583618,1792165130,{"code":4,"msg":82,"data":83},"success",[84,88,92,96,100,105,110,114,119,122,126],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},"Story & Novel",90,"story-novel",{"id":26,"doc_module":4,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},"Literature",80,"literature",{"id":33,"doc_module":4,"doc_module_name":25,"category_name":93,"show_sort_weight":94,"slug":95},"Exam",70,"exam",{"id":55,"doc_module":4,"doc_module_name":25,"category_name":97,"show_sort_weight":98,"slug":99},"Comic",60,"comic",{"id":101,"doc_module":4,"doc_module_name":25,"category_name":102,"show_sort_weight":103,"slug":104},6,"Technology",50,"technology",{"id":106,"doc_module":4,"doc_module_name":25,"category_name":107,"show_sort_weight":108,"slug":109},7,"Healthcare",40,"healthcare",{"id":111,"doc_module":4,"doc_module_name":25,"category_name":29,"show_sort_weight":112,"slug":113},8,30,"research-report",{"id":115,"doc_module":4,"doc_module_name":25,"category_name":116,"show_sort_weight":117,"slug":118},9,"Religion & Spirituality",20,"religion-spirituality",{"id":117,"doc_module":4,"doc_module_name":25,"category_name":120,"show_sort_weight":117,"slug":121},"World Cup","world-cup",{"id":123,"doc_module":4,"doc_module_name":25,"category_name":124,"show_sort_weight":123,"slug":125},10,"Lifestyle","lifestyle",{"id":127,"doc_module":4,"doc_module_name":25,"category_name":128,"show_sort_weight":55,"slug":129},19,"General","general",{"code":4,"msg":82,"data":131},{"doc_id":79,"user_id":132,"nickname":42,"user_avatar":133,"doc_module":4,"category_id":111,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":139,"language":140,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":12,"update_tm":144,"read_time":145,"preview_page_count":4},962084931830,"https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd","CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE  \nThe Volume and Repayment of Federal Student Loans: 1995 to 2017  \n© [Stephen_Payne/Shutterstock.com](Stephen_Payne/Shutterstock.com)  \nNOVEMBER 2020  \nAt a Glance  \nBetween 1995 and 2017, the balance of outstanding federal student loan debt increased more than sevenfold, from $187 billion to $1.4 trillion (in 2017 dollars) . In this report, the Congressional Budget Office examines factors that contributed to that growth, including changes to student loan policies and how they affected borrowing and repayment:  \n• Increases in the Number of Borrowers and the Average Size of Loans. The number of new loans issued per year more than doubled, and the size of the average loan increased—in part, because large increases in enrollment occurred at all types of schools, and the average tuition rose substantially.  \n• Changes in the Types of Schools Borrowers Attended. Much of the overall increase in borrowing occurred because the share of borrowers who attended for-profit schools increased substantially. Students who attended for-profit schools were more likely to leave school without completing their programs and to fare worse in the job market than students who attended other types of schools; they were also more likely to default on their loans.  \n• Increases in Defaults and Participation in Income-Driven Repayment Plans. The incidence of default and participation in income-driven repayment plans, which limit how much borrowers must repay regardless of how much they borrow, increased over the period. Both of those factors resulted in larger outstanding student loan balances.  \n• Changes in Loan Limits, Interest Rates, and Repayment Plans. Periodic changes to key parameters of student loan policy, such as borrowing limits, interest rates, and repayment plans, also affected the growth of federal student loan debt.  \n[www.cbo.gov/publication/56706](www.cbo.gov/publication/56706)  \nContents  \nSummary 1  \nHow Do the Federal Student Loan Programs Work? 1  \nWhy Has the Volume of Student Loans Grown So Much OverTime? 1  \nHow Have Changes in Student Loan Policies Affected Borrowing and Default? 2  \nTypes of Loans andRepayment Plans 2  \nTypes of Loans 3  \nRepayment, Default, and Forgiveness 3  \nGrowth in the Volume of Federal Student Loans Over Time 4  \nComponents of Student Loan Debt 4  \nBOX 1. DID THE EXPANSION OF THE FEDERAL STUDENT LOAN PROGRAMS LEAD TO INCREASES INTUITION? 7  \nDifferences in Borrowing and Repayment at Different Types of Schools 8  \nEffects of Policy Changes on Borrowing andRepayment 10  \nEstimating the Effects of Changes in Loan Parameters 10  \nLoan Limits 11  \nInterest Rates 13  \nRepayment Plans and Loan Forgiveness 16  \nList of Tables and Figures 20  \nAbout This Document 21  \nNotes  \nUnless this report indicates otherwise, the years referred to are federal fiscal years, which run from October 1 to September 30 and are designated by the calendar year in which they end. Some years are identified as academic years, which run from July 1 to June 30 and are also designated by the calendar year in which they end.  \nAll loan amounts are expressed in 2017 dollars, unless otherwise indicated. To convert dollar amounts, the Congressional Budget Office used the price index for personal consumption expenditures from the Bureau of Economic Analysis.  \nCBO’s main source for historical information on disbursements, balances, and repayments was the National Student Loan Data System—the Department of Education’s central database for administering the federal student loan program. CBO analyzed longitudinal data for a random 4 percent sample from that data set, drawn at the end of 2017. Accordingly, numbers presented in this report may differ slightly from numbers reported by the Department of Education that are based on the complete set of administrative data.  \nIn addition, although the Department of Education may not provide default rates for the same specific categories of bor","cbCaijvhzppQBUCa","https://ap.wps.com/l/cbCaijvhzppQBUCa","pdf",1243355,25,"English","# Summary\n# How Do the Federal Student Loan Programs Work?\n# Why Has the Volume of Student Loans Grown So Much Over Time?\n# How Have Changes in Student Loan Policies Affected Borrowing and Default?\n# Types of Loans and Repayment Plans\n## Types of Loans\n## Repayment, Default, and Forgiveness\n# Growth in the Volume of Federal Student Loans Over Time\n# Components of Student Loan Debt\n# Differences in Borrowing and Repayment at Different Types of Schools\n# Effects of Policy Changes on Borrowing and Repayment","[{\"question\":\"What period does the report cover, and what does it say about debt growth?\",\"answer\":\"The report examines 1995 to 2017. It finds the balance of outstanding federal student loan debt increased more than sevenfold, from $187 billion to $1.4 trillion (in 2017 dollars).\"},{\"question\":\"How did student loan borrowing volume change between 1995 and 2017?\",\"answer\":\"It grew through increases in both the number of borrowers and the average size of loans. New loans issued per year more than doubled, and average loan size rose alongside enrollment and tuition changes.\"},{\"question\":\"Which policy and borrower-behavior factors contributed to higher outstanding loan balances?\",\"answer\":\"The report highlights increased defaults and expanded participation in income-driven repayment plans, alongside changes in loan limits, interest rates, and repayment plans that affected borrowing and repayment outcomes.\"}]","The Volume and Repayment of Federal Student Loans: 1995 to 2017 - Report | PDF",1792047901,63]