Geoff Tam-Scott probably will be paying off his college education until he's 35, but at age 22 he considers himself lucky: A year after graduating from Amherst College, he shells out only $125 a month on about $20,000 in loans.
"I have friends who have like $100,000 to $120,000" in debt, he says.
Like most graduates, Tam-Scott finds himself paying off considerably more than most students did a decade ago.
A new study suggests that rising tuitions, higher borrowing limits on government loans and a new wave of low-income students have pushed the average debt burden of college graduates higher as more students from all income groups borrow more - in some cases a lot more - to finance their undergraduate educations.
I encourage all new and continuing college students to look for as many scholarships that they can. Student loans should be a last choice, not your first option!