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Congrats, Class of 2014! You’re the Most Indebted Class Ever.

June 3, 2014 | Adam S. Minsky, Esq. Current Events

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Last year, I congratulated the Class of 2013 for being the most indebted class ever, with an average undergraduate student loan debt burden of $30,000. Compared to 20 years ago, this represented more than double the average undergraduate student loan debt burden. 70% of graduating students had student loan debt in 2013.

I told the Class of 2013 not to get too excited about this honor, as the Class of 2014 would likely eclipse their debt accomplishments. Turns out I was right!

The Class of 2014 has an average undergraduate student loan debt burden of $33,000, which is up 10% from last year. For those who care, that’s more than five times the rate of inflation, which is truly remarkable. As with last year’s class, approximately 70% of graduating students have some student loan debt, compared with 45% in 1993.

The way things are going, does anyone doubt that the Class of 2015 will seize the debt crown when they graduate?

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Current Events

About Adam S. Minsky, Esq.

Adam S. Minsky founded the first law office in Massachusetts devoted entirely to assisting student loan borrowers, and he is one of the only attorneys in the country practicing in this area of law. He provides counsel, legal assistance, and direct advocacy for borrowers on a variety of student loan-related matters. He regularly speaks to students, graduates, and advocates about the latest developments in higher education financing.

Books by Adam S. Minsky

The Student Loan Handbook for Law Students and Attorneys

The Student Loan Handbook for Law Students and Attorneys

Student Loan Debt 101

Student Loan Debt 101: The Definitive Guide to Understanding and Managing Your Student Loans

Student Loans for Parents and Cosigners

The Student Loan Guide for Parents and Cosigners

617-936-2788
asminsky@minsky-law.com
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Boston, MA 02110

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