Student loan debt hits record high

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Student loan debt among college seniors has hit a record high.

Last year, the average student graduated with nearly $27,000 in outstanding loans.

That's up five percent from 2010.

The Institute for College Access and Success Project blame rising tuition and a tough job market for the bump in student loan debt among new graduates.

Tuition, fees, the availability of financial aid and the cost of living also factor into the amount of debt students pile-up.

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