The borrowing binge for education continues. Education bond sales increased 49% in the first six months of 1992, as Wall Street firms underwrote $20.81 billion on 1,720 deals, up from $13.9 billion and 1,608 issues during the first half of 1991, according to data compiled by Securities Data Co./Bond Buyer.

Bond financing rose a healthy 46% in the second quarter of 1992, to $11.99 billion from $8.22 billion a year ago, following a 55% jump in the first quarter, to $8.82 billion from $5.71 billion. The second-quarter total was the biggest quarter ever for education bonding, exceeding the $11.92 billion sold in the fourth quarter of 1985.

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