Law school students typically graduate with just over $140,000 in student loan debt. (Tulane Public Relations via Wikimedia Commons)

It's a figure we've heard before: student debt in America has surpassed a trillion dollars. But, according to a recently released report from the New America Foundation, about 40 percent of that debt stems from students earning graduate degrees.

New America's report suggests graduate students' debt is largely responsible for the recent dramatic increases in student borrowing. Jason Delisle with the New American Foundation writes:

This trend is not limited to what many already know are high-cost credentials, like those in medicine and law. According to the data, in 2004, the median level of indebtedness for a borrower who earned a Master of Arts degree was $38,000. In 2012, that figured jumped to $59,000, after adjusting for inflation.

Masters in Science, Masters in Art, Law Degrees, Medical Degrees. Degrees that, increasingly, are being more closely evaluated for value. Marketplace chose to take a look at one particular culprit.

Law school in particular is known for its hefty tuition bills -  the average debt load for law students in 2012 was just over $140,000.

New lawyers, according to the report, are typically graduating with just more than $140,000 in debt. That's a monthly payment of about $1,100.

Don't despair, the news isn't all bad. According to the report, even though graduate students are taking on more debt, they aren't necessarily paying it themselves. Increases in debt relief and assistance programs mean that today's students aren't always paying more than their peers before them.