Dive Brief:
- The graduating college class of 2012 has the highest level of student debt ever.
- Students who borrowed for bachelor's degrees averaged $29,400 in debt.
- Defaults are on the rise as well: The default rate was 6.7% five years ago; it now stands at 10%.
Dive Insight:
The numbers come from the Institute for College Access & Success, a California-based nonprofit releasing its eighth annual report on student loan debt. The full report is available as a PDF and takes a look at high- and low-debt states, as well as reporting on particular high-debt schools and comparing private and public universities.
