AUSTIN, Texas -- Student loan debt has once again reached a record high.
Last year the average college student graduated with nearly $27,000 in outstanding loans. That's up 5-percent from 2010.
Cost of living and rising tuition rates are being blamed for the record high debt.
Governor Rick Perry has challenged state universities to start offering $10,000 degrees. Texas A&M San Antonio was the first local school to accept the challenge with the help of Alamo Colleges. Students can get an information technology degree for $10,000.
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