As college graduates in the Class of 2014 prepare to shift their tassels and accept their diplomas, they leave school with one discouraging distinction: they’re the most indebted class ever.
The average Class of 2014 graduate with student-loan debt has to pay back some $33,000, according to an analysis of government data by Mark Kantrowitz, publisher at student-marketing company Edvisors. Even after adjusting for inflation that’s nearly double the amount borrowers had to pay back 20 years ago.