Virginia students who graduated from public four-year schools in the 2020-2021 academic year had on average $30,000 in debt, for a total of $357 million in the Commonwealth, the Joint Legislative Audit and Review Commission found in a review of financial aid.
“We found that financial aid has not kept pace with rising costs and students’ declining ability to pay, causing substantial unmet need for students,” JLARC Principal Legislative Analyst Lauren Axselle told commission legislators on Monday.
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