Grads get extra credit
According to the Institute for College Access and Success, average tuition and fees at universities and colleges in North Carolina increased 65% between 2003-04 and 2011-12. So though more students are attending school and graduating, they are leaving campus with more debt. Last year, the Federal Reserve Bank of New York reported that combined student debt in the U.S. has reached nearly $1 trillion — twice that of 2007 and more than credit-card and car-loan debt. Tar Heels recently had one tuition tool taken from them. Tax deductions on contributions to 529 savings accounts for higher education expired at the end of 2013, a victim of tax-reform legislation passed last year by state lawmakers.