(BLOOMINGTON) - Student borrowing is down 11 percent across Indiana University's seven campuses amounting to more than $30 million.
That rate is more than 5 times the average drop for public universities nationally.
IU officials began sending out letters to students last year after students voiced concerns about not know how much debt they were accumulating and staff developed a financial literacy initiative launched last year to lowering student debt.
But Professor Don Hossler says the drop in debt is because of the recession and that students and families are more cost sensitive and aware of what they are spending.
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