Grad Student Debt Rising
March 25, 2014
at Southern Illinois University Carbondale
March 25, 2014 by Matt Ryg
The amount of debt that graduate and professional students are incurring to pay for their education has surged over the past several years, according to a New American Foundation report released today.
Analyzing federal data, the think tank found that the median overall indebtedness for a borrower who earned a graduate degree increased — in inflation-adjusted dollars — from $40,209 in 2004 to $57,600 in 2012. The figure includes loans from both undergraduate programs and graduate and professional degrees.
Much of that increase was fueled by students, across a broad range of disciplines, taking out more money to pay for their graduate education, according to the report, written by Jason Delisle, director of New America’s Federal Education Budget Project.