The New York Times corrects the truth about student loans

NYT_correctionIn yesterday’s post, I described how I believe The New York Times in a front-page story misrepresented the state of student loan borrowing.  I pointed out that the Times story prominently (above the fold on page one of the Sunday Times) featured the statistic that 94 percent of all graduating bachelor’s degree recipients borrow to pay for higher education, a figure that was far in excess of other data published by the U.S. Department of Education and known to those of us who conduct research on financial aid.  After having the figure questioned by a number of people, most prominently economist Sarah Turner of the University of Virginia, the Times finally issued a correction and edited the story.  It now states that “About two-thirds of bachelor’s degree recipients borrow money to attend college, either from the government or private lenders, according to a Department of Education survey of 2007-8 graduates; the total number of borrowers is most likely higher since the survey does not track borrowing from family members.”

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