The geographic variability was also quite amazing:
State averages for borrowers’ debt at graduation in 2012 ranged from $18,000 to $33,650. High-debt states remain concentrated in the Northeast and Midwest, with Delaware theSince these averages include both public and private nonprofit institutions, it is not clear why there is such regional variability, but the data seem to suggest that you should "go west" for college!
highest. New Hampshire, Pennsylvania, Minnesota, and Rhode Island also had average debt over $30,000. Low-debt states were mainly in the West and South, with New Mexico the lowest. Other low- debt states include California, Arizona, Nevada, and Wyoming.
Sadly, the single biggest reason for the rise in student debt is almost certainly the fact that state support for higher education in the US has not kept up with the increasing demand for a college education. This means that students who are admitted to public universities are paying an ever higher proportion of their educational expenses because taxpayers keep cutting back on support, and since the support doesn't exist to open new public campuses to meet demand, students are forced to go to more expensive private institutions, either non-profit or for-profit, even if they can't really afford them.
…and who can't resist The Onion's story about student debt:
Man Doesn’t Know How Parents Ever Going To Pay Off Massive Student Loan Debt
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