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Class of 2012 Owes Almost $30K Each

Class of 2012 Owes Almost $30K Each
Posted December 5th, 2013 @ 8:44am by Rob Quinn, Newser Staff

(NEWSER– The class of 2012 entered a tough jobs market buckling under an average debt load of $29,400, according to the annual report from the Institute for College Access and Success. That's up from an average $26,600 in 2011, and the rise can be blamed on rising tuition fees combined with stagnant family incomes. The struggling economy is a "double-edged sword in many ways because (students) and their parents have fewer resources to pay for college costs, which may lead them to take on more debt," the institute's research director tells USA Today. "And then they're entering a down economy where it's hard to find a good job that allows them to repay the debt."

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