#loans for college
10 Colleges That Leave Graduates with the Most Student Loan Debt
The average debt load for borrowers in the class of 2013 was $27,670, according to U.S. News data.
The U.S. News Short List, separate from our overall rankings, is a regular series that magnifies individual data points in hopes of providing students and parents a way to find which undergraduate or graduate programs excel or have room to grow in specific areas. Be sure to explore The Short List: College. The Short List: Grad School and The Short List: Online Programs to find data that matter to you in your college or grad school search.
Student loans get a bad rap.
They have been compared to the mortgage crisis. and blamed for causing mental problems and stunting graduates’ financial growth.
In fact, in a survey of 16- to 19-year-olds by Northeastern University. 25 percent said that no amount of student loan debt is manageable.
Those teens are in for a rude awaking.
Among the class of 2013, the average debt load for borrowers was $27,670, according to 1,027 ranked schools reporting debt data to U.S. News.
If students were paying 6 percent rate on that debt, $27,670 would translate into a little more than $300 per month over the standard 10-year repayment plan, according to an online repayment calculator. Interest rates on student loans, especially private ones, can vary.
On average, 68 percent of 2013 graduates borrowed to attend school, according to the 1,041 ranked schools reporting that figure to U.S. News.
The school that left the class of 2013 in the most debt was St. Francis University, tied at No. 56 in the Regional Universities (North) rankings.
The nearly 88 percent of St. Francis students who borrowed graduated with an average $50,275 in loans. That would work out to nearly $600 in monthly payments over the 10-year repayment plan, assuming a 6 percent interest rate.
[Read more tips and advice on paying for college. ]
Below is a list of the 10 universities where graduates who borrowed took on the most student loan debt. Unranked schools, which did not meet certain criteria required by U.S. News to be numerically ranked, were not considered for this report.