$45,800 Student Loan Balance for College Graduates

Seventy-two percent of 2007-08 bachelor's degree recipients borrowed to pay for their college education, according to a National Center for Education Statistics report. At graduation, they owed an average of $45,800. Four years later in 2012, the 63 percent majority still owed an average of $41,900. Here are the amounts borrowed and owed by 2007–08 college graduates by their post-secondary school enrollment status ...

No further school enrollment
At time of college graduation: 66.4% had borrowed an average of $29,600
Four years after college graduation: 56.5% still owed an average of $24,200

Attended master's degree program
At time of college graduation: 79.1% had borrowed an average of $55,400
Four years after college graduation: 71.4% still owed an average of $52,300

Attended academic doctorate program
At time of college graduation: 59.9% had borrowed an average of $73,600
Four years after college graduation: 54.2% still owed an average of $75,200

Attended professional doctorate program
At time of college graduation: 89.7% had borrowed an average of $131,000
Four years after college graduation: 83.9% still owed an average of $134,100

While these levels of debt are disturbing, there's also good news in the report: "Despite rising student debt levels, the average increase in lifetime earnings from a bachelor's degree relative to a high school diploma still exceeds average student loan debt."

Source: National Center for Education Statistics, The Debt Burden of Bachelor's Degree Recipients