Story URL: http://news.medill.northwestern.edu/chicago/news.aspx?id=228484
Story Retrieval Date: 10/30/2014 11:54:01 PM CST

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Michelle Kim/MEDILL

A student consults with a counselor at a financial aid office.


Student debt loads keep climbing

by Michelle Kim
Feb 27, 2014


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Michelle Kim/MEDILL

Most students graduate with an average of about $30,000 in student loan debt, which could take up to 10 years to repay.

Student debt loads are continually rising, burdening students many years after graduation. A new survey by the U.S. Department of Education reveals that student debt loans increased nearly 20 percent just over four years. Debt is higher than 40 percent of working-age adults make in a year. The key statistic showed that most students graduate with an average of about $30,000 in student loan debt, which could take up to 10 years to repay. Professor Robert Kallen at DePaul University suggests students to pay closer attention to which institution to attend to ensure it is a worthwhile investment.