<p>An article on grad school debt amounts:
[A</a> Graduate Degree In Debt - Forbes.com](<a href=“http://www.forbes.com/2009/03/10/college-graduate-school-loans-personal-finance-retirement-grad-school-debt.html]A”>A Graduate Degree In Debt)
From finaid:
Graduate and professional students borrow even more, with the additional cumulative debt for a graduate degree typically ranging from $30,000 to $120,000. The median additional debt is $25,000 for a Master’s degree, $52,000 for a doctoral degree and $79,836 for a professional degree. A quarter of graduate and professional students borrow more than $42,898 for a Master’s degree, more than $75,712 for a doctoral degree and more than $118,500 for a professional degree. At the 90th percentile cumulative debt for graduate and professional degrees exceeds $59,869 for a Master’s degree, $123,650 for a doctoral degree and $159,750 for a professional degree. </p>
<p>The following table shows the percentage borrowing and average amount of cumulative debt per borrower among graduating students according to degree program. It provides the amounts borrowed for just the graduate education and also the combined totals for undergraduate and graduate education. Undergraduate students who graduate with a Bachelor’s degree and no debt are 1.7 times more likely to enroll in graduate and professional school than Bachelor’s degree recipients who graduate with some debt. </p>
<p>Graduate Education Debt All Education Debt
(Grad & Undergrad)<br>
Graduate & Professional Degree Programs Percent Borrowing Cumulative Debt Percent Borrowing Cumulative Debt<br>
Total 56.4% $40,297 69.6% $47,503
Master’s Degree 55.2% $31,031 69.4% $40,208
Doctoral Degree 45.8% $57,860 56.3% $58,967
Professional Degree 86.2% $87,308 87.9% $98,711
Master of Business Administration (MBA) 55.5% $31,927 68.9% $41,676
Master of Social Work (MSW) 72.3% $35,516 77.7% $49,017
Master of Science (MS) 49.8% $30,684 63.5% $40,362
Master of Arts (MA) 60.8% $29,975 73.7% $40,500
PhD 35.4% $44,995 48.0% $45,455
EdD 65.1% $43,812 73.3% $44,880
Law (LLB or JD) 88.6% $80,081 88.6% $92,937
Medicine or Osteopathic Medicine 81.9% $119,424 83.2% $127,272
Pharmacy (PharmD) 82.2% $63,412 85.0% $81,838 </p>
<p>Grants, scholarships, work-study and other forms of gift aid just do not cover the full cost of a college education. Many students find that they must supplement their savings with government and private loans. The Federal education loan programs offer lower interest rates and more flexible repayment plans than most consumer loans, making them an attractive way to finance your education. You can also deduct up to $2,500 in student loan interest even if you don’t itemize deductions on your income tax return. </p>
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