Students and families should consider our rankings during the college selection process. Average student debt per graduate should be considered before decision day, and before signing the promissory note,
New York, NY (PRWEB) October 18, 2016
Student loan debt has become a $1.3 trillion problem in the United States. Today, more than 43 million Americans are now working to repay their student debt. According to a new study issued by the Student Loan Report, over 60 percent of college graduates are leaving campus with student debt.
This is the first study using the Class of 2015 data that shows the average debt per graduate - a metric that not only takes into account how much debt borrowers graduate with, but also the proportion of all graduates with debt.
According to the data, the average graduate from the Class of 2015 had approximately $16,929 in student debt. Private colleges levied $19,394 onto the average graduate, whereas public colleges gave graduates $15,791 in debt on average. In other words, the study found that private colleges gave graduates 22.81% more student loan debt than public colleges.
The Student Loan Report created its study using the newly released Peterson’s financial aid data set. The data used in this study was collected through a self reported survey to the colleges and universities listed in the report. The Student Loan Report ranked the colleges in the following ways:
- Rankings of the Schools in Each State
- Student Loan Debt Per Graduate Overall Rankings
Top 300 Lowest Debt | Overall
Top 300 Highest Debt | Overall
- Student Loan Debt Per Graduate Public School Rankings
Top 150 Lowest Debt | Public
Top 150 Highest Debt | Public
- Student Loan Debt Per Graduate Private School Rankings
Top 150 Lowest Debt | Private
Top 150 Highest Debt | Private
“Students and families should consider our rankings during the college selection process. Average student debt per graduate should be considered before decision day, and before signing the promissory note,” said Student Loan Report Founder Drew Cloud.
You can use the included interactive map tool to better understand which cities, states and regions are experiencing the largest impact from student debt. “We put in an incredible amount of effort into creating the interactive map tool. We are the first organization to create a truly interactive way to understand the impact of student loan debt. Our technology team was even able to write code to make the map embeddable. We wanted to give other websites and organizations the ability to give our map to their readers. It took a long time to build, but we are very happy with the final result,” said Cloud.
About The Student Loan Report
The Student Loan Report is the leading source for student loan industry news and commentary. The Student Loan Report was created to help students and their families make wise decisions regarding their higher education.