Public colleges' per-student debt has outgrown their per-student financial resources, according to a new report from Moody's Investors Service.
The Chronicle of Higher Education reports that per-student debt at public colleges now stands at $13,665, while per-student financial resources are at $12,893.
The Chronicle has more figures from the report, which is accessible only to Moody's subscribers:
The median level of debt for 200-plus public institutions rated by Moody's--$176.9-million as of the end of the 2009 fiscal year--has grown by 31 percent over four years. That's notably greater than the rate of revenue growth (25 percent), total financial resource growth (15 percent), and enrollment growth (13 percent) during that same period.
In June, Moody's released a report on private colleges tbat predicted their finances would be "challenged for at least the next 12 months."
According to the creators of the Student Loan Debt Clock, the amount of college debt in America is increasing by more than $2,800 per second.
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