College student debt amounts to average of $40k

JACKSONVILLE, Fla.-- The average college student graduates with $40,000 in debt, according to a survey by finance and accounting staffing firm, Accounting Principals.

Of the 507 recent grads surveyed, the average one leaves college with $40,000 in debt. That breaks down to $27,000 in student loans and $13,000 in other debt, such as credit cards.

On top of that, 65 percent of those surveyed say their first job paid $45,000 or less, making only one in five that can cover the basic necessities and student loan repayment.

Source: http://www.msnbc.msn.com/id/48180603/ns/local_news-peoria_il/

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