5:41 am May 23, 2011, by Henry Unger
Many students are graduating from college with a pile of debt that will take decades to repay, AJC staffer Katie Leslie reports.
In fact, student debt is one of the few categories of borrowing that is still on the rise, Leslie writes.
The amount borrowed per full-time student grew by 5 percent a year, adjusted for inflation, from 2000 to 2010, according to the College Board Advocacy & Policy Center.
This graduation season, the average student will leave school with $20,000 or more in loans, according to various expert estimates, Leslie reports.
Amazingly, as many as one-third of bachelor’s degree recipients can expect to still be paying back their student loans when their own children head off to college, said Mark Kantrowitz, the founder of FinAid.org and FastWeb.com.
Students’ debt loads would be less problematic if they could be confident of finding work in their field of study, but since the Great Recession, many have struggled to do so, Leslie reports.
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In other media:
- Henry Unger, The Biz Beat
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