Dive Brief:
- Student loan debt has increased for the fifth year in a row, reaching a new record average of $29,400.
- That figure includes graduates of for-profit, four-year schools; if those are excluded, the average is $27,850.
- Average debt load varied tremendously by location; students in the East and Midwest borrowed much more than students in the West and South.
Dive Insight:
The New York Times article on this subject notes that the numbers paint a picture of widely varying experiences and make it hard to draw individual conclusions: "The report underscores the murkiness of college costs, with students and parents often focusing on sticker prices that have little to do with how much aid they might receive, how much they might pay out of pocket, and how much they might have to borrow."
