Students are borrowing double what they did 10 years ago, even after adjusting for inflation, according to the College Board. Total student loan debt now exceeds credit card debt.

With more than half of students at St. Edward’s University covering all or part of their tuition with student loans, accruing debt is a major concern.

About 58 percent of students at St. Edward’s rely on student loans to pay for tuition, according to Doris Constantine, associate vice president of Student Financial Services. Most take advantage of scholarships, grants and assistance from their parents in addition to student loans, she said.

“By the time I graduate from St. Edward’s, I will have accrued about $40,000 of student debt,” sophomore Mari Serna said. “I know that this number isn’t the highest I have seen students carry, but it also isn’t the trillion.”

Regardless of the exact figures, student loan debt is a problem for many students in the U.S., including at St. Edward’s.

“Trying to pay for private school tuition on an 18-year-old’s budget equals taking out student loans,” Katie Shagman, a recent graduate, said.

The increase in student loan debt does not necessarily indicate a worsening economy, but it could have negative ramifications for the future economy, associate professor of economics Matthew Clements said.

“A potential long-run problem is that the necessity of borrowing for education could discourage some from obtaining an education,” Clements said. “There would then be less human capital than there would otherwise, and less growth as a system.”