Student debt has increased dramatically over the past several decades. The aggregate volume of new student borrowing loans has increased over the past 20 years. In 2012-13 students borrowed over $110 billion for higher education. One basic reason for the aggregate increase in student debt is that there are more students in higher education. Enrollment has increased 62% over the past 20 years, from 9.8 million full-time equivalent students to 15.9 million.but according to enrollment growth, it makes us wonder about the unexplained student loan debt growth. Annual borrowing per full-time equivalent student, it tripled drastically from $2,485 in 1990-91 to $6,928 in 2012-13.
