Family Life

10.18.12 |

College graduates are leaving school with the highest level of debt ever recorded. Two-thirds of college graduates finish school with debt, and those who borrowed money walked off the graduation stage owing on average nearly 27-thousand dollars. That's up about 5-percent from last year. What's even more troubling is that half of all college graduates are having trouble finding work so they can begin paying off that debt. President Obama wants to implement an income-based repayment plan that caps student loan payments at 15-percent of income and forgives repayment after 25 years. Mitt Romney argues the flood of federal student aid has caused colleges to raise tuition. He wants to return to a system in which the government supports private lenders, arguing that's more cost effective.