When student loans max out, kids turn to parents

College debt is building and, increasingly, parents are on the hook.

Where do you turn when you’ve maxed out on federal student loans? Ask Mom and Dad to take out some parent loans, too.

The average cumulative federal student loan debt that parents borrow even exceeds what’s being taken on by students who graduate with debt, according to new research.

On average, parents owed $32,596 for their cumulative loans taken out under the Federal Parent PLUS program at college graduation in 2015-16.

On average, college grads with bachelor’s degrees owed $29,669 in student loans in 2015-16, according to Mark Kantrowitz, publisher and vice president of research for Savingforcollege.com.

Source: When student loans max out, kids turn to parents