News
By Ana Mir
|
October 27, 2010
Last year's college graduates were immediately saddled with an average of $24,000 in debt upon leaving their undergraduate careers behind, an increase of 6 percent from the previous year, according to a recent report from the Institute for College Access and Success.
The institute's report, titled "Student Debt and the Class of 2009," also shows that the unemployment rate for graduates was 8.7 percent in 2009, an increase from 5.8 percent in 2008 and the highest annual rate on record.
Members of the University's class of 2009 had an average total debt of $19,939, and for those students who took need-based loans specifically, $15,571, said Scott Miller, associate director of student financial services at the University, The previous year, the average debt was $19,016 and $14,849 for students who took need-based loans, he said.