 Student debt is the fastest growing type of borrowing and is rapidly becoming economically significant.”

Germany has both private and public universities with the majority being public universities, which is part of the reason their graduates do not have as much debt.For undergraduate studies, public universities are free but have an enrollment fee of no more than €250 per year which is roughly US$305.Their private universities cost an average of €10,000 a semester which is about US$12,000.