A recent survey found that the majority of today’s freshman class expects to get a master’s degree. That makes sense: the master’s degree is the fastest-growing college credential in the US.
More than 16 million people in the US — about 8 percent of the population — now have a master’s, a 43 percent increase since 2002.
And as master’s degrees have grown, so has the debt that comes with them. The typical total debt for a borrower with an undergraduate and graduate degree is now more than $57,000, up from $40,200 in 2004. (This includes medical and law degrees.) <Read more.>