Student loan debt is many things — pesky, inhibiting, capable of lingering for 25 years, even — but there is one thing it is not: decreasing. According toa new report from the Project on Student Debt at The Institute for College Access & Success (TICAS), the average amount students borrowed for college has increased for the fifth year in a row.
Of those students who graduated with a bachelor’s degree in 2012, 71% took out loans and that group left school with a record average of $29,400 student debt. To be fair, the report notes, that number includes a small number of graduates of for-profit four year colleges and they tend to have considerably more debt than students at not-for-profit universities. All colleges which must report their numbers to the Federal government every four years, as they did in 2012.