Patterns in Student Debt Highlighted

The amount of debt accumulated by graduates of public and private colleges grew recently and it was recently revealed that 41% of all college grads do not have any debt at all. This means that 59% of all college graduates have a substantial amount of money to pay back once they have earned their college degree.

The average amount of debt that a bachelor’s degree earner carries is $17,700. Most college students are forced to borrow money for their education at some point in their college years.

Although borrowing moderately is a responsible way to pay for college, students should consider carefully how much they can expect to earn once they graduate and whether or not they will be able to pay it back once they graduate. This data is provided by the US Dept of Education’s National Postsecondary Student Aid Study or NPSAS.

It was found that bachelor degree earners are the most likely group to borrow money for college. In 2008, 66 percent of bachelor’s degree recipients graduated with debt which includes 62 percent with federal loans and 33 percent who borrowed from non-federal sources. A larger group of graduates of for-profit schools relied on private loans.

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