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Student Loans: It’s Time to Empty that Piggy Bank

All of those happy hour Orange Crushes were worth it...right?...Right?

Maybe. But lately, the cost of higher education has sent student loan debt jumping to $1.5 trillion. Here's how it breaks down by the numbers:

$28,400—How much debt the average new grad owes. That number was $22,100 in 2001 (adjusted for inflation).

20%—Borrowers who are late on payments.

66%—Student loan debt held by women. Typically, more women attend some form of higher education than men.

For perspective...

$1.2 trillion—U.S. auto loan debt.

More than $1 trillion—U.S. credit card debt.

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