Who is most in debt for college? You are in for a surprise

In an article today in Time Magazine, "The Real Student Debt Problem No One is Talking About" sheds light on who is leaving college in the most debt.  Graduates represent 40% of the total student debt.  This is a reason for concern since graduates only represent 14% of the student population.

Whoops!  Something is amiss.

From the article:  "Often past the point at which their parents help them pay for their tuition, room, and board, graduate students borrow an average of nearly three times more per year than undergraduates, according to the College Board. And while the average debt of undergraduates has more than doubled since 1989, according to the Brookings Institution, it has more than quadrupled during that time for graduate students."

At the same time graduate degrees are more in demand for many professions.  But the payback in lifetime earnings is not as guaranteed.  Teachers, health care workers, and other professions are notoriously underpaid and often require advanced degrees.  

There is a loop hole that Obama and other legislators have found that students only have to pay back what they can afford, often as low as 10% of their salary.  That leaves most graduates degrees unpaid after 20 years when the loan balance is cancelled.  

One piece of advice is charge away.  No matter how much you borrow, you will only have to pay back part of it.  This does not seem to be a viable option since the tax payers will have to make up the difference.  

What can we do with college programs to ease the cost?  Interesting discussion for the new UTBRGV to tackle this issue.