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How does the student debt burden typically affect those in their senior years, based on the Forbes report?
According to the Forbes report, the student debt burden typically affects those in their senior years by encumbering them with higher amounts of debt, often up to $100,000 or more. This ongoing issue has become increasingly problematic over time, with more than half of students leaving school with debt. As a result, older Americans are potentially putting their retirement at risk as they struggle to pay off these balances.
What percentage of students currently graduate with debt, according to the Forbes research?
According to the Forbes research, more than half of students currently graduate with debt.
How has the cost of college tuition changed over the last 30 years for public and private non-profit institutions?
Over the last 30 years, the cost of college tuition has significantly increased for both public and private non-profit institutions. According to data from the National Center for Education Statistics, tuition costs at public four-year colleges grew from $4,160 to $10,740, while at private non-profit institutions, the costs rose from $19,360 to $38,070. These figures have been adjusted for inflation. The increase in tuition costs has led to a higher need for student loans and other forms of financial aid, burdening graduates with substantial debt.