The average college graduate from the class of 2012 owes more than 29,000 dollars in student loans according to The Project on Student Debt, a research organization aimed at making college more accessible.
Student loans observers have long blamed the student debt crisis on the rising cost of tuition nationwide. But as USA Today’s Hadley Malcom reports, family incomes are flat, and as a result, parents have less income to pay for college.
Rising tuition costs and stagnating incomes may not be the only factors to pricier education, though. Tuition costs are a symptom of a much larger problem—high inflation.