The figure is staggering. It was released by FICO, which surveys Americans’ debt position in order to issue their credit ratings.
Students are amassing debt as never before. Some students are taking out two loans. This figure has risen by 90% since 2005. The percentage of adult Americans with two ore more student loans is almost 12%. That is one in eight. In 2005, the percentage was 6.2%.
The average debt is almost $27,000. It 2005, this was about $17,000.