In an environment where U.S. consumer prices overall remain historically low, tuition is one of the fastest growing expenses. By extension, it means the $1.2 trillion collective mountain of education debt is likely to grow bigger. Experts cite ballooning student debt as detrimental to everything from net worth to credit scores, and even the ability for students to get jobs to pay off their loans. Annual tuition inflation has slowed since 2004, according to data from the Bureau of Labor Statistics, yet it still averaged 6 percent over the course of the decade. At that rate, six-figure loan debt is rapidly becoming the norm for many graduates, and students may find themselves swallowed up by a black hole of debt, unless they can find a way to achieve escape velocity. Read More7 ways to stop student loans from ruining your life

2014 grads: Most indebted ever?

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The bleak numbers speak for themselves: the graduating class of 2014 left the ivory tower with the most debt ever. In 2013, the 42.2 million student borrowers had an average balance of more than $25,000, according to data from the New York Federal Reserve. Although some blame those astronomical figures on a lack of knowledge surrounding loan repayment, others say the problem runs deeper. "There's not really a student loan crisis, there may be a college tuition crisis," said Jan Miller, president of Miller Student Loan Consulting. However, she added that "there's almost always a way to make your situation work." So how can borrowers untangle the knot of student debt? Read MoreHow many students actually finish college? You'd be surprised

Incentives to cut debt