Average Student Debt Climbs Above $26,000

According to the latest report from the Project on Student Debt, 66 percent of the class of 2011 borrowed money to fund their college education, and those borrowers graduated with an average debt of $26,600. Average debt rose by 5 percent over 2010, and about one-fifth of total student debt came from private loans. The unemployment rate for recent college grads, meanwhile, dipped slightly last year.