Virginia Tech

Chart (B) | How much debt do students need to take on to cover net price?



RateAnnual Growth 3
Net Price14.2%
Annual borrowing per FTE2.4%


RateAnnual Growth 3Total Growth
Inflation (HEPI)42.9%33%
Inflation (CPI)2.7%31%
Net price1 vs. annual borrowing per full-time equivalents (FTE)2 (2013-2023)


Measure2013-142014-152015-162016-172017-182018-192019-202020-212021-222022-232023-24
Total Annual Borrowing$154.3M$160.4M$164.9M$170.1M$179.3M$190.6M$198.1M$197.6M$203.1M$219.8M$239.3M
Annual FTE31,90632,06033,22333,67534,86635,77437,36638,03737,98138,85739,197
Percentage of students borrowing537%37%35%35%35%35%35%33%33%32%32%



1. Net price = total cost of attendance financial aid (average).
2. Determined as total annual borrowing (e.g., private Perkins , Stafford, Plus loans) divided by annualized FTE.
3. "Annual growth" calculated as compound annual growth rate (CAGR).
4. Determined as annual growth in Higher Education Price Index over period.
5. Determined as the number of students with loans divided by total reported enrollment; excludes non degree, unclassified, and certificate programs; only includes associate, bachelor's, master's, first professional, and doctor's degree programs.
Source: SCHEV Research FA19C: Trends in Annual Borrowing Per Annualized Student FTE; IPEDS