This study finds that at one university, college major, ethnicity, grade point average, age, and number of semesters required to complete a degree are relevant in determining the student loan debts of recent college graduates. Gender is found to be irrelevant in determining student loan balances. A large percentage of recent graduates have student loans in excess of lender-recommended levels leading to concerns that the benefits of higher education are being slowly eroded by the increasing debt burdens of graduates. (Contains 6 tables.)