University of Virginia

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



RateAnnual Growth 3
Net Price11.1%
Annual borrowing per FTE0.2%


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$124.0M$125.8M$126.5M$128.8M$131.3M$134.5M$135.2M$138.5M$141.6M$139.0M$147.3M
Annual FTE23,75524,02424,26024,32924,84725,34125,77125,91726,07026,63527,703
Percentage of students borrowing529%29%29%28%28%27%26%25%23%23%22%



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