Everyone has heard that student debt is dragging young people down. But by just how much? And is anything being done to lighten the load?
The average debt for a graduate of the Class of 2011 weighed in at $26,600 – 5 percent higher than for the Class of 2010, according to a report out Thursday by The Institute for College Access & Success.
“As debt levels rise, fear of loans can prevent students from getting the education they need to succeed,” said TICAS President Lauren Asher. “Students and parents need to know that, even at similar looking schools, debt levels can be wildly different.”
The report and a related online database show the average debt of graduates in each state, and at many individual public and private schools. Not enough for-profit colleges reported the information to be included.
Students in New Hampshire and Pennsylvania bear the heaviest load, at $32,440 and $29,959, respectively. U