Click me
Transcribed

IOU: The State of Student Debt

IOU. mint.com THE STATE "The growth in education debt OF STUDENT DEBT The % of Students Graduating With Debt by State: outstanding is like cooking a lobster, the increase in total student debt occurs slowly but steadily, so by the time you notice that the water is boiling, you're already cooked." -MARK KANTROWITZ 58% (publisher of FinAid.com) 7096 60% 63% 70% 70% 72% 61% 64% 67% 79% 65% 48% 59% U.S. Student Debt 73% 71% 40% 67% Has Eclipsed U.S. Credit Card Debt: 41% 58% 62% 66% 50% 73% 58% 59% 48% 69% Fo57% June 2010 Credit Card Debt: 55% 49% -$826,483,240,000 45% 54% 57% 54% MA: 62% June 2010 Student Debt: 55% 55% ст: 51% -$829,785,000,000 63% 62% RI: 69% 60% 48% 49% NJ: Student Loan Defaults: 66% 37% MD: 50% DC: 49% "Data for DE and NM not available. $10,000 $15,000 $20,000 $25,000 $30,000 UTAH -$13,041 HAWAII -$15,156 KENTUCKY -$15,951 WYOMING-$16,307 The Average Student Debt Amount by State: ARIZONA -$17,059 GEORGIA -$17,296 CALIFORNIA -$17,795 LOUISIANA -$17,827 NEVADA -$17,921 COLORADO -$18,321 NORTH CAROLINA -$18,400 FLORIDA -$18,621 MARYLAND -$18,647 ARKANSAS -$18,947 WASHINGTON -$18,987 OKLAHOMA -$19,455 MONTANA -$19,563 TEXAS -$19,591 1 in 14 graduates who started paying down federal student loans between Oct. '07 & Sep. '08 defaulted on their debt by Sep. 30, 2009. VIRGINIA -$19,747 For-Profit ILLINOIS -$20,102 NEW JERSEY -$20,169 TENNESSEE -$20.312 Schools: MISSISSIPPI -$20,354 WEST VIRGINIA -$20,502 KANSAS S20 585 KANSAS -320,585 NORTH DAKOTA -S20,625 NEBRASKA S20 920 OREGON -$21L029 For-profit colleges have the highest percentage of students with debt and the highest average debt Public Four-year: SOUTH CAROLINA -$21,157 62% AVERAGE DEBT: MISSOURL-S21.342 MISSOURI -$21,342 AISCONSIN -$21,386 -$20,200 IDAHO521 706 IDAHO -$21,706 COUTH DAKOTA -$22,486 Private Non-profit 4yr: MASSACHUSETTS -$23,125 INDIANA -S23,264 INDIANA - NCUIGAN S23,489 MICHIGAN - 72% AVERAGE DEBT: -$27,650 ALABAMA -$23,768 Private For-profit 4yr: OHIO -$23,854 ALASKA S34 4S8 ALASKA -$24,488 MAINE -$24,916 96% AVERAGE DEBT: -$33,050 RHODE ISLAND -$24,973 VERMONT -$25,047 PENNSYLVANIA -$25,219 MINNESOTA -$25,558 NEW HAMPSHIRE -$25,785 NEW YORK -$25,950 Meanwhile the Nationwide average debt for seniors CONNECTICUT -$26,138 graduating with loans has grown from IOWA -$28,174 D.C. -$29,793 $18,650 in 2004 to *Data for DE and NM not available. State with lowest average debt: State with highest average debt: $23,200 by 2008. UTAH $13,041 D.C. $29,793 SOURCES: THE FEDERAL RESERVE | THE WALL STREET JOURNAL | THE PROJECT ON STUDENT DEBT | THE U.S. DEPARTMENT OF EDUCATION

IOU: The State of Student Debt

shared by kcatoto on Jan 24
435 views
0 shares
0 comments
It’s no secret that, with skyrocketing tuition rates, many college graduates are leaving their Alma Maters with a degree in one hand and a pile of debt in the other. As the Wall Street Journal recen...

Publisher

Mint

Source

Unknown. Add a source

Category

Education
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size