Report: Student debt up five percent

Amy Scott:

Two-thirds of college seniors graduated with debt last year, according to the Institute for College Access and Success.

How much they owe depends a lot on the college. Average debt loads at four-year public and nonprofit colleges ranged from $3,000 to more than $55,000.

The advocacy group's president Lauren Asher says a tough job market has made it harder for recent grads to pay down their loans.

"Young college graduates are having a harder time finding jobs than they might have expected, and those that do find jobs may be under-employed-working part-time when they'd rather be working full-time, or working in jobs that don't require a degree."

Posted by Jim Zellmer at October 19, 2012 4:15 AM
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