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According to theProject on Student Debtprepared by The Institute for College Access and Success, 7 out of 10 students graduating in 2012 from a four-year college in the United States had student loan debt. The average amount borrowed per student was $29,400, which is up from $18,750 in 2004. If student debt experiences the same total percent increase over the next eight years, approximately how much will a college student graduating in 2020 owe, assuming she takes out student loans to pay for her education?
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