![Person looking at bills on their living room couch](/sites/default/files/styles/357x215/public/2023-10/iStock-1389552737.jpg?h=62bc044e&itok=p0joi69k)
"We have depressed ourselves into a mindset in which $30,000 in debt is acceptable for a degree."
The class of 2018 graduated with a record average of $29,200 in loans to help pay for a bachelor's degree, reports USA Today.
Why it matters: It was unusual to graduate with a high amount of debt a few decades ago, but "we have depressed ourselves into a mindset in which $30,000 in debt is acceptable for a degree," Mark Huelsman, an associate director at the left-leaning think tank Demos, told the newspaper.