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Higher Ed in the News

Average debt for graduating college seniors rises to $23,200

December 2, 2009

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.

The Project on Student Debt, an initiative of the Institute for College Access and Success, notes that that “employment prospects for young college graduates have soured along with the economy.” 

Researchers report that the unemployment rate for college graduates between the ages of 20 and 24 was 7.6 percent in the third quarter of 2008, “the highest third-quarter rate since 2002.”

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Read the full story from the New York Times.