according to recent statistics, although the percentage of people ages 22 to 29 with debt has declined, their total debt is up 10%, to an average $16,120 as of Aug. 1, 2009 compared with five years earlier. In addition, for students, every other type of debt from credit cards to college to personal loans has also risen.

Student-loan balances rose 16% to an average of $14,379; revolving debt, including credit cards, surged 24% to $5,781; and total installment debt, including student and personal loans, rose 4% to $17,208.