Student Loan Debt on the Rise

















Mark Kantrowitz, publisher of Fastweb.com and FinAid.org recently came out with an analysis of the growing student debt for a college education. This information was published in an article on NPR.org on May 16, 2011. According to the projections for '08-'11 based on growing trends, the current average debt for student loans at graduation is about $27,000. The total student loan debt has also been growing, increasing by over $600 billion in the past 10 years and surpassing the amount owed in credit card debt.

To help deal with the increasing amount of debt that students are having to face after graduation, Kantrowitz suggests considering going to a cheaper school or getting degrees that are more profitable right out of college. With more than two-thirds of students graduating with debt from student loans, and taking into account today's fluctuating job market, paying back loans right out of college can prove to be difficult.

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