2012’s Top 10 Colleges by Highest Amount of Student Loans
It seems that on at least a weekly basis, we are writing an article in regards to student loan debt and how it is shaping the college and university industry across the nation. With current college students and graduates facing a collective student loan debt of more than $1 trillion, the issue is sure to be front and center during the upcoming 2012 presidential election race. In order to help students try and make educated decisions about their student loans and where they will be able to afford college, this week the US News released two reports highlighting the top 10 schools in the nation by highest and lowest student debt loans. Let’s take a look at these lists and see which schools made the cut.
Top 10 Schools with the Most Student Loan Debt
According to the report, the average amount of student loan debt for a student who graduated in the class of 2010 was close to $25,000. This total reflects loans taken out from financial institutions, banks, private lenders, and from schools that provide loans to their students. Across the board, nearly 70% of students had to incur at least some debt through student loans to attend school.
Unsurprisingly, most of the schools that made the top 10 list for the highest amount of student loan debt or smaller liberal arts schools and regional colleges which typically tend to have higher tuition as they focus on a smaller market of students looking for specialized degrees. While these schools have long been known to be very expensive, it is still somewhat disheartening to see that students are taking on massive debt loads in such an unstable economy and with uncertainty in the job market.
The top 10 schools by average total amount of student loans per student:
#1 – Eastern Nazarene College – 87% of Students Borrowed – $51,336 Average Student Loans Debt
#2 – Ohio Northern University – 85% – $48,886
#3 – Holy Names University – 79.3% – $48,833
#4 – University of New England – 88% – $47,293
#5 – Mount Ida College – 80.3% – $46,393
#6 – La Salle University – 84% – $45,888
#7 – Kettering University – 78% – $45,570
#8 – St. Joseph’s University – 62% – $45,530
#9 – Clark Atlanta University – 93% – $45,227
#10 – Bard College at Simon’s Rock – 44% – $44,910
As you can see, there is a wide variety of schools on display in this list. The question is: how should a high school senior make use of a list like this while trying to choose potential colleges and universities for enrollment in the fall?
Choose Carefully to Avoid Crippling Student Loans
Unless money is no object is important to at least consider the tuition, room and board, textbook, and other costs that you will incur in the course of earning your degree. If you are a student of lesser financial means it is worth your while to choose carefully and balance the quality of your education with the costs you’re able to afford.
Tune in tomorrow as we look at 2012’s Top 10 Colleges by Lowest Amount of Student Loans!
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