MINNEAPOLIS (WCCO) – A new report shows college graduates are facing the largest tuition debt ever — and Minnesota students are among the hardest hit.

The report shows two-thirds of the college class of 2011 graduated “in the red,” with the average student owing more than $26,000.

Debt for Minnesota graduates was third highest in the nation, averaging $29,800.

The study also showed that while the unemployment rate is high for college grads, they still have a better shot at getting a job than their peers without degrees.