Monday, May 18, 2015

This year's grads have more debt than ever - Tara García Mathewson, Education

Continuing the trend of the last several decades, this year’s graduates have more debt than their predecessors. The Wall Street Journal reports on a new study from college financial planning company Edvisors, which shows the average borrower in the Class of 2015 will be responsible for paying back $35,000 and 17% of these grads have parents who took out $30,687 on their behalf, on average. Student loan debt has increased by more than 10 times since 1994, according to the article, and if current trends continue, the Class of 2016 will soon take over as the most indebted class ever.

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