Student Debts Pile UpApril 25, 2017 |
College students are facing more debt than ever before.
Students who graduated from college in 2015 left school with an average of $34,000 in debt, the Federal Reserve Bank reported this month.
Just 10 years ago, the average student debt was $20,000.
The Federal Reserve Bank said students and their parents are taking out bigger loans than in the past. That is because state and local governments are paying a smaller percentage of the cost of higher education.