Loan debt to hit hard for college graduates

The Detroit Free Press reports:

Students at Michigan's three largest universities are keeping pace with their peers around the country in at least one way they'd prefer not to.

Two out of three undergraduates say they'll leave school with at least some student loan debt, the Detroit Free Press-Local 4 Michigan Poll shows. And about one in four expects to owe credit card bills.

The survey of 640 undergraduates at Michigan State University, Wayne State University and the University of Michigan shows students mostly in line with the national average.

Nearly one-quarter of those students who expect loan debts say they'll have to pay back less than $20,000, and 16% say they will owe $40,000 or more.

Generation debt.