Study: Students graduating college with record debt

FARMINGDALE - The cost of a higher education is getting even higher, and students who take out loans to cover tuition will be paying off debt for a long time. A recent study done by The College Board shows that tuition at four-year public universities has now jumped two years in a row. According to the study, students are graduating with more debt than ever before. In 2011, 57 percent of students graduated with an average debt of $23,800. Officials at Farmingdale State College say enrollment is at its highest since it became a four-year college in 1993. Patrick Calabria, vice president of institutional advancement at Farmingdale, says tuition, room and board for a full-time student is about $21,000 per year. He says the school increased tuition by $300 this year because state colleges have received less state aid in recent years. According to the study, total grant aid for students did not increase this year.

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