Debt is ballooning for many in US, study finds

The average American student has more than $1,600 in student debt, according to the latest report from the US Census Bureau.

The data was released Thursday.

The average debt in the US is $27,500, up from $22,600 three years ago.

That is roughly the same as a year ago.

In addition, the number of Americans with student loans is increasing at a rate of about 1,100 to 1,200 per month, according the report.

In a report released this week, the Pew Research Center found that the average student loan debt is up by $15,000 in the past 12 months.

Many students will owe money on their loans, the report said.

Pew did not provide the median amount of debt, but it said the average amount is currently $30,500.

It also did not break down the number with an additional $10,000 or so of interest that is owed by those who take out loans for the duration of the loan.

It is not uncommon for students to be struggling financially, the study said.

The report found that nearly two-thirds of Americans have student loans and nearly half of those have debts totaling more than a quarter of their monthly income.

More:The number of people living in households with incomes of less than $35,000 a year rose to 18.9 million in the fourth quarter, up 4.2% from the third quarter and up by 5.1% from a year earlier.

That figure is up 6.3% from last year, the latest year for which data is available.

Nearly half of the borrowers with student debt are between the ages of 18 and 34.

Among those ages 18 to 24, the figure was 9.5% at $26,600.

About half of students who took out loans between 2014 and 2016 had student debt of $1 million or more.

Only about a quarter were in households where their incomes were below $35.00 per year.

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