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Asian and Hispanic students are less likely to borrow to pay for college, even if they have substantial remaining financial need after receiving federal, state, or institutional grants. In 2003-04, 35 percent of Asian and 40 percent of Hispanic students with remaining financial need took loans to pay for college, compared to 54 percent of Black students. The lower likelihood of borrowing for Hispanic and Asian students holds true across all types of institutions, income quartiles, and categories of attendance.