Most college students and recent graduates are not saddled with oppressive educational loans, according to a report issued by the College Board today, reports U.S. News & World Report. But the report also documented a surprising and troubling increase in the debt loads shouldered by students attending the lowest-cost schools of all--local, public community colleges.

One third of all new bachelor's degree recipients in June of 2008 started their working lives without owing a penny in federal or private educational debt. Only 10 percent of last year's graduates owed more than $40,000, according to the lead author of the report,...

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