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Grad school is debt machine

Posted By -NO AUTHOR- On 03/26/2014 @ 6:26 pm In Education,Money | No Comments

(CBS News) The rapidly swelling cost of student loan debt is not being inflated simply by unaffordable undergraduate and associate degrees as 40 percent of the $1 trillion in outstanding student loan debt paid for expensive post-graduate and professional degrees.

“Is College Worth It?” explores the answer to a critical question: Should we keep sending our kids to college?

A new report from the New America Foundation’s Education Policy Program finds that median debt loans for graduate school borrowers increased from $40,209 in 2004 to $57,000 by 2012. The median debt amassed for a masters of arts graduate increased to $58,539 from $37,965 over the same period. Borrowers at the 75th percentile of indebtedness saw jumps from $54,000 to $85,000 in inflation-adjusted data from 2004 to 2012.

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