Average Student Loan Debt Has Increased 177% Since 1989
by Michael Collier on Sep 22, 2013 | Views: 494 | Score: 2
Average Student Debt Per Household | |
---|---|
1989 | 9634 |
1992 | 11086 |
1995 | 11714 |
1998 | 17942 |
2001 | 17562 |
2004 | 20022 |
2007 | 23349 |
2010 | 26682 |
Average Household Student Debt
Sources:
motherjones.com
With the cost of a college education continually on the rise, student debt has shot up tremendously in recent years. Americans owe nearly $1 trillion on their student loans, and the amount of student debt per household has increased 177% since 1989.
Does this account for inflation? And the fact that more people per household are now going to school?
Even considering inflation, compared to the overall price of consumer goods, tuition prices have risen pretty drastically since the 80's. Public college tuition has increased nearly 72% just since 2001.