Recent grads are caving under the weight of their student loans, a TransUnion study has found
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The average debt load per individual is growing as well. From 2007 to 2012, average student loan balances increased by 30 percent, from $18,379 to $23,829, the study found.
With many recent graduates unemployed, frustrated with the job market or heading back to school to embark on a different career, mounting student loan balances are no surprise, said Ezra Becker, vice president of research and consulting at TransUnion’s financial services business unit.
“However, the rate of growth we observed was truly eye-opening,” he said.
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