Student Debt Up In 2012

Career College Central summary:

  • Seven in 10 students who graduated with bachelor’s degrees in 2012 had student loan debt, with an average debt of $29,400, according to a report from The Institute for College Access & Success (TICAS).
  • Both figures increased since 2008, the last year comparable numbers were available, when 68 percent of graduates had an average debt of $23,450.
  • States With Highest Average Debt for Class of 2012:

    • Delaware $33,649
    • New Hampsh. $32,698
    • Pennsylvania $31,675
    • Minnesota $31,497
    • Rhode Island $31,156
    • Iowa $29,456
    • Maine $29,352
    • New Jersey $29,287
    • Ohio $29,037
    • Michigan $28,840
  • Student debt varied tremendously by state, according to the report. Students in South Dakota were the most likely to graduate with debt, with 78 percent of graduates owing money, while students in Nevada were the least likely to graduate with debt, with 41 percent of graduates owing money.
  • Average debt per student also differed across state lines. Many high-debt states were in the Northeast and Midwest. Delaware’s students had the highest average debt in the country, at $33,649, while students in New Mexico had the lowest average debt, at $17,994.

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