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Table 17. Among 1992–93 bachelor’s degree recipients who had no additional degree enrollment and took out Stafford loans, percentage who had any periods of forbearance, average length of time until the first period, and average amount of loans, by selected student characteristics: 2003 |
|---|
| Average Stafford loan amount |
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| Student characteristics | Percent with any forbearance |
Average number of years from bachelor’s degree to first forbearance |
If forbearance | If no forbearance |
| Total | 12.3 | 4.8 | $11,400 | $7,400 |
| Amount borrowed (undergraduate) | ||||
| Less than $5,000 | 4.7 | ‡ | ‡ | 2,800 |
| $5,000–9,999 | 10.8 | 4.7 | 7,900 | 7,400 |
| $10,000–14,999 | 20.9 | 4.8 | 12,500 | 12,200 |
| $15,000 or more | 25.9 | 5.2 | 19,800 | 18,100 |
| Salary in 1994 | ||||
| Lowest | 19.7 | 4.5 | 11,000 | 7,300 |
| Low middle | 17.4 | 4.4 | 11,300 | 6,600 |
| High middle | 9.9 | 5.5 | 10,600 | 7,200 |
| Highest | 7.5 | 5.1 | 13,100 | 7,800 |
| Debt burden in 19941 | ||||
| Not making repayments | 11.7 | ‡ | ‡ | 5,000 |
| Less than 5 percent | 4.3 | ‡ | ‡ | 5,000 |
| 5–8 percent | 11.4 | 4.8 | 9,300 | 8,000 |
| 9–12 percent | 18.0 | 4.2 | 11,900 | 10,400 |
| More than 12 percent | 18.9 | 4.3 | 13,800 | 10,000 |
| Stafford loan deferments by 2003 | ||||
| Any deferments | 43.3 | 5.0 | 12,000 | 9,600 |
| No deferments | 10.5 | 4.7 | 11,200 | 7,300 |
| Stafford loan defaults by 2003 | ||||
| Ever defaulted | 25.0 | 4.7 | 13,000 | 9,000 |
| Never defaulted | 10.9 | 4.8 | 10,900 | 7,200 |
| ‡ Reporting standards not met (too few cases). |
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| 1 Debt burden is the monthly loan payment as a percentage of monthly income. |
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| NOTE: Estimates include students from the 50 states, DC, and Puerto Rico. |
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| SOURCE: U.S. Department of Education, National Center for Education Statistics, 1993/03 Baccalaureate and Beyond Longitudinal Study (B&B:93/03). |
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