In the past three decades, the cost of attaining a college degree has increased more
than 1,000 percent. Two-thirds of students who earn four-year bachelor’s degrees
are graduating with an average student loan debt of more than $25,000, and 1 in
10 borrowers now graduate owing more than $54,000 in loans.
African American and Latino students are especially saddled with student debt, with
81 percent of African American students and 67 percent of Latino students who
earned bachelor’s degrees leaving school with debt. This compares to 64 percent of
white students who graduate with debt. With $864 billion in federal loans and $150
billion in private loans, student debt in America now exceeds $1 trillion.
see The Student Debt Crisis (pdf)