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December 11, 2013 1:00 PM Average Student Debt Now More than $29,000

By Daniel Luzer

Debt2012

This year, like every year, college debt is higher than ever before.

According to CNN Money, “the average debt load for the class of 2012 was $29,400, according to a report released Wednesday by the Institute for College Access & Success’ Project on Student Debt.” This means that $29,400 is the average debt held by those who graduated last year with student loans.

The year before, the average debt was $26,600.

If student loan debt had merely kept up with inflation the average student debt burden would now be only $27,150.47.

Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer

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