There was fresh evidence today of just how expensive college has become and how fast student debt is piling up. It came in the latest look at the bill that comes due once diplomas are handed out. The numbers are more daunting than ever for newly minted college graduates. Data released today shows two thirds of the class of 2011 had loan debt that averaged $26,600. That was up 5 percent from the previous year.The Institute for College Access and Success, based in California, surveyed more than 1,000 public and private nonprofit four year colleges. It also cited studies showing that more than one third of recent graduates have jobs that do not require a college degree at all. Indeed, in Tuesday's presidential debate, Republican Mitt Romney pointed to other research that the disparity between jobs and degrees is even worse. We have to make sure that we make it easier for kids to afford college and also make sure that when they get out of college,there's a job. With half of college kids graduating this year without a college -- excuse me, without a job. And without a college level job, that's just unacceptable. And likewise you 've got more and more debt on your back, so more debt and less jobs. In fact, student loan debt now outpaces credit card debt in the United States and by some measures exceeds $ 1 trillion.
