Student College Debt Hits New Record

October 22nd, 2010

A new report, released today, finds that college seniors who graduated from public and private nonprofit four-year colleges in 2009 carried an average of $24,000 in student loan debt, up 6 percent from the previous year. Meanwhile, unemployment for recent graduates climbed from 5.8 percent in 2008 to 8.7 percent in 2009 – the highest annual rate on record for college graduates aged 20-24.

The report shows that average student debt levels vary widely by state as well as by college.