Jul 01, 2016 08:27 AM EDT By Sarene Mae Butao, UniversityHerald Reporter

Recent researches show that a large fraction of the college student population does not borrow money.

According to a study in California, there are 22 colleges and universities that where students have no access to money loans. This is one of the proofs that the loan for students is deterring.

Findings of these researches raise concerns about the affordability of college and student loans. Most students only apply for whatever loans they find and these leads to having lots of debts. Students would then need to pay high interest than they should be. The study in California suggests that one out of four student borrowers are 90 days behind their regular payment, Equilibrio Informativo reported.

Some schools think that that the tuition waivers that they offer are enough for low-income students. These schools does not take into consideration that students in their campuses may need loans for food, transportation and housing. Also, there are about one million students in the US that do not have access to Federal loans. This is one of the reasons why students resort to private loans.

Despite the advantages of federal loans, many students turn to private lending firms. Another problem that these university students will encounter is that do not have the appropriate credits to get private student loans.

Also, the students that loaned in the federal government are struggling to pay their debts. These students have high debt and low salary. Former students of Corinthian Colleges Inc., about 350,000 of them, took around $3.5 billion of the budget in federal loans. The school is now defunct so President Obama's administration decided to forgive the $171 million debt of these students. There was an average amount of $15,280 relief per student, Comox Valley reported.

The United States has the largest population of college-educated citizens in the world. However U.S. also has the highest cost for higher education.

See Now: Covert Team Inside Newsweek Revealed as Key Players in False Human Trafficking Lawsuit