Ohio’s Graduates Ranked 14th In The Nation For Student Loan Debt

According to The Institute for College Access & Success, Ohio is ranked 14th in national student loan debt.

To recent graduates, this study may not be surprising. But to those who attended public schools when they were more affordable, the numbers are shocking. The study shows that 64% of Ohio graduates leave college with student debt. Although that debt can vary, on average, it’s around $30,000.

Among public universities and colleges, Kent State has the highest debt loans, with 76% percent of students graduating with debt and the average debt reaching $33,234. University of Akron, Bowling Green, Shawnee State, Wright State, and Youngstown State University all had average debts above $30,000.

 

Excluding branch campuses, the lowest average debt went to The Ohio State University, the University of Toledo, and Ohio University.

Private universities varied greatly. Otterbein University had the highest average debt by far, with 77% of students graduating with debt and the average debt over $40,000.

“College is one of the biggest investments Americans make, yet many are making choices without basic information, including how much debt they can expect to graduate with, which varies wildly from college to college and state to state,” said Debbie Cochrane, Vice President of The Institue for College Acess & Success and co-author of the report.

“We need to make college more affordable and reduce burdensome debt while giving students and policymakers the information they need to make wise decisions and investments.”

The study recommends that policymakers focus on ways to reduce the need to borrow, help keep loan payments manageable, improve consumer information, strengthen college accountability, and reduce risky private loan borrowing.

For those who have student debt, the biggest takeaway is likely, “You’re not alone”. There are so many resources for recent grads who are just getting into the groove of having a life and managing to pay down their debt.

The Huffington Post offered this guide to 10 Ways To Reduce Your Student Loan Debt, and the advice is on point. Although actions like paying extra each month are certainly not an option for those already stretched to the brink, consolidating your loans or even responsibly applying for deferment can make all the difference in the long term.

To view the full study, please click here.

    A daily Columbus email you'll actually love.

    Every morning we compile the best of Columbus news & events and deliver it in a quick 5 minute read that sets you up with everything you need to be a well informed Columbusian. Columbusite. Cbussian? Whatever, give it a try, you'll love it.

    You have Successfully Subscribed!