During academic year (AY) 1996-97, 83,000 students left Texas postsecondary institutions with $882 million in federally guaranteed loans. This study attempts to analyze the cumulative Texas Guaranteed Student Loan Corporation loan indebtedness of student borrowers who left postsecondary educational institutions from AY 1991 through 1997. The major findings of the study noted that: (1) for the period studied, median indebtedness grew 152 percent, while inflation rose only 21 percent; (2) borrowers leaving school in AY 1996-97 had a median indebtedness of $6,625, up from $2,625 in AY 1990-91; (3) borrowers at public four-year schools are now almost as indebted as their counterparts at private four-year institutions; (4) borrowers take advantage of the higher loan limits available at higher grade levels; (5) financial assistance from non-loan sources might not do much to reduce borrowing by students who are inclined to borrow in the first place; (6) high indebtedness is related to an increased likelihood of repayment problems; (7) borrowers who consolidate their student loans have much less difficulty during repayment; and (8) borrowers with multiple loan holders have a much greater likelihood of repayment problems. Appended are methodology notes, statistical data on median indebtedness at individual Texas schools, a list of Texas regions, and the report's logistic regression models. (MAB)