Since 2001-01 private student loans has grown at an average annual rate of 27%.
The proportion of student loans borrowed through banks, credit unions and private lenders has climbed 20%.
Five years ago - private loans were only 12% of borrowing and 10 years ago they were just 4%.
Students graduating from for-profit colleges had the highest average debt - $24,600.
Private non-profit college grads has an average debt of $19,500.
Almost one/fourth (23%) of grads from four-year private colleges owed more than $30,000 compared to 14% of grads from public four-year colleges.
A whopping 40% of grads from four-year for-profit schools owed $30k or more...and they had the high interest rates to go with it.
How much will you or your kids owe when they graduate from college?
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