Study: College debt is on the rise
Newly released numbers show the amount of debt students are carrying has risen to an alarming level.
The Institute for College Access & Success estimates that 69 percent of 2013 graduates across the nation are carrying debt on average of $28,400. That figure is up 2 percent from the class of 2012.
In New York, 60 percent of graduates are carrying $26,000 in debt.
Parents and students who spoke with News 12 say it is becoming increasingly hard to pay for a college education. Some are wondering whether a college level education is worth the debt that is accrued.
But educators say debt can be managed with good fiscal planning before a student chooses a college and while they are there. They say with time, even high debt can be worth it in the long run.
"The outcome of a carrier after 15, 20 years with a bachelor's degree will always prove to be a positive thing," says Dr. W. Hubert Keen, President of Farmingdale State College.