Student Loan Debt in the U.S.A. is growing at an alarming rate. Many have speculated it is an unsustainable curve similar to the housing crisis of 2008, while others blame tuition inflation fueled by easy credit. Let's run the numbers for the nerds and data heads in the room:
Student Debt Growth
Graduate students feel it the worst. Their average Federal debt load in 2012 was 312% greater than Undergraduate students.
Average Fed. Loans, Postsecondary, Undergadruate, & Graduate
Source: Study by Sandy Baum for Urban Institute via upjohn.org
Legal and Medical Field professionals bear incredible debt levels compared to other master's programs. Individuals in these fields payed $1,300 per month on average, and up to $1,900! Imagine if they couldn't find jobs in their field on top of these staggering obligations!
2012 Debt By Field of Study
Monthly Payments of Typical Borrowers by Field
Data source: Newamerica.org study.