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College Graduates Facing Mounting Debt, Rising Unemployment

Source: blogs.wsj.com Posted By: Valerie M...3976 days ago

College graduates face record high levels of debt and unemployment, according to a report released this morning from the Project on Student Debt.

The nonprofit reports that average debt for college seniors who graduated with loans in 2008 rose to $23,200 in 2008, up from $18,650 in 2004. Roughly two-thirds of students graduate with student loans, government surveys show.

Lauren Asher, president of the Project on Student Debt and co-author of the paper, says the growing debts show a “systemic....

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