Report: Seven In 10 Students Graduate From College With Loans; Average Debt On The Rise

More than 70 percent of college graduates in 2012 had student loans, and their average debt surpassed $29,000, according to an independent analysis of federal data made public Wednesday.

Both figures were higher than what was found in a comparable profile of graduates four years earlier.

The Institute for College Access and Success, based in Oakland, Calif., reported that 71 percent of the class of 2012 had debt at graduation, up from 68 percent for the class of 2008. The average debt of $29,400 was up from $23,450 in 2008, indicating that for many students, public and private grants are not keeping pace with rising tuition.

The report drew on a quadrennial release of federal data from a survey of student aid.