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.READ MORE: CBS3 Mysteries: Don Ly's Children Continue To Search For Answers After Father's American Dream Ended In Deadly Stabbing In South Philadelphia
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.READ MORE: Camden County Businesses, Officials Worry As Heavy Rains, Flooding Become More Common
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.MORE NEWS: Upper Darby Police Investigating Death Of Newborn Found In Bag
To read the report, visit: http://projectonstudentdebt.org/state_by_state-data2012.php