The amount of debt held by recent college graduates continues to rise. Two-thirds of the class of 2011 graduated with debt, and the average debt for each student upon graduation is approximately $26,000. The data provided in this study does not include debt information for students at for profit institutions, who generally graduate with more debt than those from non-profit schools. The study, conducted by the Institute for College Access and Success, reports that debt is up 5% from last year.
While the debt continues to rise, the good news is that students with debt are still better off than not having a degree at all. Student Loan debt is one the most persistent forms of debt in the United States right now. The government estimates that 10% of borrowers of Federal Student Loans default within the first two years of starting repayment.
To read the full article, visit http://consumerist.com/2012/10/18/report-shows-that-college-debt-is-on-the-rise-again-for-recent-graduates.