Student Loans – Want lower student loans? Study in Utah or Hawaii, study finds
Student debt is surging at a time when the job market is worsening. But where students go to college — and even the state where their school is located — can have a huge impact on how much debt they’re shouldering when they graduate.
Want to avoid high student debt? Then you might want to stay away from colleges in Washington, D.C., and Iowa and head to Utah and Hawaii. Seniors who graduated from colleges in those two states were stuck with an average debt of $29,973 and $28,174 in 2008. Consider instead schools in Utah or Hawaii, where average debts for 2008 seniors were $13,041 and $15,156, respectively, far below the national average of $23,200.
Those debt levels are the calculations of a report released Tuesday by The Project on Student Debt (.pdf), an initiative of the nonprofit Institute for College Access & Success based in Berkeley, Calif. Rounding out its Top 10 low-debt states are Kentucky, Wyoming, Arizona, Georgia, California, Louisiana, Nevada, and Colorado. (Click on the chart above for average debt figures as well as the Top 10 high-debt states.)
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