Holy diploma! The average debt of a U.S. college student now stands at $24,000, up 6% from the previous year:
“This consistent growth in debt over the last few years really adds up,” said Lauren Asher, president of the Institute for College Access & Success, the research and advocacy group that operates the debt project. “It’s important to remember that the experts all agree that if you’re going to borrow, you should take out federal loans first, because federal student loans come with far more repayment options and borrower protections than other types of loans.”
The extra worry: high unemployment and finding a way to pay the debt.