Wednesday, October 28, 2015

Here’s how much student-loan debt has exploded over the past decade - Jillian Berman, Marketplace

The average student debt at college graduation grew from $18,550 in 2004 to $28,950 in 2014, a 56% jump, according to a report released Tuesday by the Institute for College Access and Success, a nonprofit focused on expanding access to higher education. While the share of graduates with debt only ticked up slightly — from 65% in 2004 to 69% in 2014 — the increase in the average amount of debt far outpaced inflation growth at 25% over that time. While the share of graduates with debt only ticked up slightly — from 65% in 2004 to 69% in 2014 — the increase in the average amount of debt far outpaced inflation and wage growth, which increased 25% and 23% respectively during that time. The report doesn’t include data on graduates of for-profit colleges, who are both more likely to have debt than their peers at nonprofit schools and carry 43% more debt on average, according to the report. http://www.marketwatch.com/story/the-average-student-loan-debt-grew-56-over-the-past-10-years-2015-10-27

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