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Student Loan Debt On The Rise

A discouraging snapshot this morning on the cost of college and student debt.

According to a report out this morning, two-thirds of the national college class of 2011 finished school with loan debt. Those who borrowed walked off the graduation stage owing an average of $26,600. That's up about 5 percent from the class before.

The latest figures come at a time of increasing alarm about the sheer scope of student debt nationally, which by some measures has surpassed $1 trillion.

Recent government figures show nearly 10 percent of borrowers using federal student loans default within two years of starting repayment.


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