The Common Good
September-October 2002

Educated to Debt

by Rose Marie Berger, Jodi Hochstedler | September-October 2002

College, credit cards, and students: A dangerous mix?

$1,000,000: Amount more a college degree is worth compared to a high school degree across a lifetime in the workforce

$16,928: Average cumulative federal student loan debt (1999-2000)

$9,188: Average cumulative federal student loan debt (1992-1993)

64%: Percentage of students who take out federal loans

40%: Average increase in tuition and fees at a public institution over past decade

32%: Percentage of students who have four or more credit cards

$2,748: Average student credit card debt

10%: Percentage of students who owe more than $7,000 on credit cards

Source: Sallie Mae, Christian Science Monitor

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