New Study: College Debt Rising
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(CNN)– College Debt is rising, according to a new study on most college campuses, debt is higher than ever.
The average undergraduate student borrower is facing $30,100 in loans, up 4% compared to the year before, according to a report from The Institute of College Access and Success released this week.
That means they’ll be paying about $300 a month over 10 years.
The report might underestimate the average debt. It excludes students who went to for-profit colleges, because so few of those institutions report relevant data. But a majority of for profit students do borrow money.
