PHILADELPHIA (CBS) – A new report shows that both Pennsylvania and New Jersey are at the top of the list when it comes to student loan debt.
Research from the Institute for College Access & Success showed that average student loan debt in the United States for 2011 college graduates has risen to $26,600. That’s up from 2010’s report, when the average was at $25,250.
The report also ranked the 50 states from highest student loan debt to lowest. Pennsylvania came in at number two, with an average loan debt of $29,950. New Jersey also made the top ten, ranking tenth with $27,610. At number one was New Hampshire, where the average 2011 graduate has a whopping $32,450 in debt.
In addition to ranking the state averages, the Institute’s research also revealed that student debt continues to rise faster than inflation, and that two-thirds of the 2011 graduating class had student loans.
To read the report, visit: http://projectonstudentdebt.org/state_by_state-data2012.php