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Debt for College Grads Increases

EUGENE, Ore. — More than two-thirds of 2011 college seniors crossed the graduation stage in debt, averaging close to $27,000 each, according to a recent report.

According to the report by the Institute of College Access and Success, that average debt is up about 5 percent from the previous class.

Lane Community College administrators say they’re not surprised by the increase and are working on educating students before borrowing. Administrators said while the lack of government support is a major factor, some of that debt could be attributed to a lack of financial literacy.

But no matter what the cause, the reality remains that education is becoming more costly and students aren’t always sure about the value.

“At the end you may feel like the debt pays off or weighs more than your career will in the future. Plus you have to worry about finding a job after you get done with college,” said LCC student Sandra Martinez.

Though many questioned, they all stood by their goals to finish school and were comforted that unemployment remained lower for those with a college degree.

Administrators at the University of Oregon said their graduate’s average debt was lower than the national numbers, sitting at about $23,000, but that is up about 8 percent from last year.

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