Student loan debt, a hot topic of the occupy Wall Street movement, has been increasing exponentially in recent years, and new data is confirming just how large the average student’s debt is upon graduation.
The Institute for College Access and Success is reporting that two thirds of college graduates have student loans upon graduation and average $25,250 in total obligations. This is a 5% increase in just 2 years, when the institute last reported on the average student debt.
Actual amounts may be even larger, as the study does not include amounts taken out to attend for-profit training and educational services, which have become more popular in recent years. Furthering compounding the issue is the increasing rate of unemployment and underemployment among recent graduates, which raises the question whether such student debts will be sustainable in the near future.