The average student loan debt grew 56% over the past 10 years

New college graduates have it tougher now than their peers did 10 years ago, a new report indicates.

The average student debt at college graduation grew from $18,550 in 2004 to $28,950 in 2014, a 56% jump, according to a report released Tuesday by the Institute for College Access and Success, a nonprofit focused on expanding access to higher education. While the share of graduates with debt only ticked up slightly — from 65% in 2004 to 69% in 2014 — the increase in the average amount of debt far outpaced inflation growth at 25% over that time. While the share of graduates with debt only ticked up slightly — from 65% in 2004 to 69% in 2014 — the increase in the average amount of debt far outpaced inflation and wage growth, which increased 25% and 23% respectively during that time.  Read more