How to Graduate From College With No Debt

HOW TO GRADUATE FROM COLLEGE SOURCE: visual.ly FINWEB.ORG WITH http://www.finaid.org/loans/201108 24graduatingwithoutdebt.pdf INFOGRAPHIC NO DEBT ith all the hype around the increasing burden of student loans, it's easy to forget one V important fact: many students graduate from college with no debt whatsoever. In the 2007-08 academic year, 1.7 million, or two in five undergraduate students, managed to do just that. Three in five owed less than $10,000. How did they do it? Here are the key characteristics of students who graduate college without student loans. ASTATE ENROLL IN AN IN-STATE PUBLIC COLLEGE UNDERGRADS WITH NO DEBT PRIVATE - 15% PUBLIC 85% of debt-free college graduates attended public colleges, with almost 78% enrolled in an in-state public college. OUT-OF-STATE: 7% - IN-STATE: 78% DEBT FREE VS. IN DEBT FOR-PROFIT PRIVATE PUBLIC FOR-PROFIT VS NONPROFIT COLLEGES DEBT FREE 7% 30% Less than 7% of students enrolled in for-profit colleges graduated with no debt, compared with 30% at non-profit colleges and 51% at public colleges. 51% WITH DEBT 2 YEAR VS. 4 YEAR COLLEGES 2 4 50% DEBT FREE 33% WITH DEBT YEAR COLLEGE IS 2 YEAR THE WAY TO GO? YEAR COLLEGE Half of students who graduate with no debt graduated from a community college. A third graduated from a public 4-year college. 50% OFF LIVE AT HOME ENROLL IN A LOW-COST COLLEGE Students who live at home with their parents are more 88% of students who graduate with no debt graduated from a college with tu- ition and fees under $10,000 per year. likely to graduate without debt than other students. SPEND LESS ON TEXTBOOKS Three quarters of students who graduate without debt spent $1,000 or less per year on textbooks. FAMILY INCOME AND COLLEGE DEBT INCOME MATTERS LOW MIDDLE HIGH This isn't a choice you can make, but looking at economic status shows a decrease in debt-free graduates as family income level drops. While 56% of upper-income undergraduate students graduated with no debt, compared to 45% of middle-income DEBT FREE 36% 45% 56% WITH DEBT students and 36% of low-income students. %24