College students are facing more debt than ever before. Students who graduated from college in 2015 left school with an average of $34,000 in debt, the Federal Reserve Bank reported this month. Just 10 years ago, the average student debt was $20,000. The Federal Reserve Bank said students and their parents are taking out bigger loans than in the past. That is because state and local governments are paying a smaller percentage of the cost of higher education. William Dudley is president and CEO of the Federal Reserve Bank in New York. He said that graduates from some colleges are having trouble finding good-paying jobs. That is making it difficult for them to pay off their loans, he said.
