Search
131009095514-qui28-student-loans
Photo: Alex Slobodkin/Getty

Student loan debt has increased — again

Oct 27, 2015

Bad news for millennials: the average U.S. student loan debt amount has increased yet again, Consumerist reports.

A recently released study by The Institute for College Access & Success found that nearly 70% of students graduate with an average loan debt of $28,950, up 2% from 2013 levels. In the 10 years from 2004 to 2014, the average student debt rose by 56% from $18,550 to $28,950, according to the study.

“Despite rising debt levels, a college degree is still the best path to a job and decent pay,” said Debbie Cochrane, the TICAS research director, in a statement. “For students who don’t graduate, loans are much harder to repay. Even a small amount of debt can be burdensome if you have limited job options.”

Additionally, students graduate with high levels of unemployment, including a 7.2% unemployment rate for recent college grads and 14.7% for those with just a high school diploma, according to Consumerist.

Check out the full TICAS report here.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions