Students coming from families earning six-figure incomes are taking on more debt than previously thought, according to the Huffington Post. The Wall Street Journal reports:
According to a Wall Street Journal analysis of recently released Federal Reserve data, households with annual incomes of $94,535 to $205,335 saw the biggest jump in the percentage with student-loan debt from 2007 to 2010, the latest figures available. That group also saw a sharp climb in the amount of debt owed on average.
In 2007, 19.5 percent of families from this income group had students taking out loans to pay for college. That figure jumped to 25.6 percent in 2010. They’re also carrying an average of $32,869 of student loan debt, up from $26,639 in 2007. Upper-middle income families have seen a sharp increase in amount of student loan debt they are carrying over the past 8 years……Read More