Report: 2011 graduates carried highest average student debt load in history
- According to a new report from the Project on Student Debt at The Institute for College Access & Success, students graduating with bachelor's degrees in 2011 carried the largest average student debt load in history, averaging about $26,600--up 5% over $25,250 in 2010.
- States in the Northeast and Midwest had the highest student loan debt concentrations, with New Hampshire's average of $32,440 leading the nation.
- The report focused on four-year public and non-profit private colleges and relied on voluntary reporting from schools, noting that less than 2% of for-profit four-year colleges report debt figures for the class of 2011, though their graduates borrow 45% more than students at other four-year institutions and are twice as likely as other students to default on their loans.
From the article:
NEW YORK -- College students who graduated with bachelor's degrees in 2011 left school with the largest average student debt load in history, according to a new report. The class of 2011 came out with an average of $26,600 in student loan debt, a 5 percent increase from $25,250 in 2010, according to the Project on Student Debt at The Institute for College Access & Success.. The increase, in line with recent years, shows student debt continues to grow faster than inflation. ...
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