2012 grads have highest-ever student debt

USA: The college graduating class of 2012 is, on average, deeper in the hole with student loan debt than any class before. And graduates of Pennsylvania colleges -- state and private -- are more likely than graduates of other colleges nationwide to be burdened with student debt, according to data from the U.S. Department of Education and national surveys of colleges and college graduates.

An independent, nonprofit organization based in Oakland, Calif., the Institute for College Access & Success, recently released its eighth annual report on average student loan debt in the U.S., which found that college graduates who borrowed for bachelor's degrees granted in 2012 had an average student loan debt of $29,400 -- the highest average student loan debt on record.

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