Final answer:
The average student loan debt for college seniors who graduated in 2017 was $30,000. This amount reflects an increasing trend in the cost of higher education compared to past years, posing a significant financial challenge to graduates starting their careers.
Step-by-step explanation:
That over two-thirds (68%) of college seniors who graduated in 2017 had student loan debt, with an average of $30,000 for those with loans. This issue falls under the subject of Social Studies, addressing economic concerns and political policy regarding education and debt in the United States.
Multiple sources, including reports from 2010 and 2017, suggest that the burden of student loans has been growing considerably. For instance, in 2010, the average student loan debt was about $25,250, and by 2013 it had increased to around $29,000. By 2017, it is stated that graduates had an average of $30,000 in student loan debt. These figures reflect a trend of increasing costs for higher education and illustrate the escalating challenge that graduates face when starting their careers already burdened with significant financial obligations.
Various proposals have been made to combat the issue, with some advocating for the elimination of current college debt and the introduction of tuition-free colleges as potential solutions. The disparity between rising educational costs and the lesser growth of income, along with high interest rates on loans, exacerbates the problem, leaving many graduates with few viable financial options after college.