Friday, December 4, 2009

Average Debt for Graduating College Seniors Rises to $23,200

Average Debt for Graduating College Seniors Rises to $23,200 By JACQUES STEINBERG, NYTimes: The Choice Blog

Yet another study has been released that will provide scant comfort to those college applicants, and their parents, who intend to take out loans to pay for their education. Students who graduated from college in 2008 with loans carried an average debt of $23,200 — an increase of nearly 25 percent, or $4,550, when compared with those who graduated just four years earlier. These figures appear in the latest study by the Project on Student Debt, an initiative of the Institute for College Access and Success, a nonprofit organization.

Putting That $23,200 Average Student Debt Figure in Context By JACQUES STEINBERG, NYTimes: The Choice Blog

The averages are lower for public colleges ($20,200), higher for private nonprofits ($27,650), and much higher for for-profit schools ($33,050).

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