70% of college students graduate with debt

Source: Samantha Fields - Marketplace

Today, roughly 70% of American students end up taking out loans to go to college. The average graduate leaves school with around $30,000 in debt and all told, some 45 million Americans owe $1.6 trillion in student loans — and counting.

How did we get here? Slowly, over decades, according to Mark Kantrowitz, publisher and vice president of research at the website Saving for College. “You can compare it to cooking a lobster,” he said. “By the time you figure out that the water is boiling, you’re already cooked.”

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