According to U.S. News, the class of 2019 borrowed an average of $52,327 at these colleges. Separate from our overall rankings, the U.S. News Short List is a regular series that emphasizes certain data points to assist students and parents in determining which undergraduate and graduate programs thrive or have room for improvement in specific areas. To uncover facts that matter to you in your college or graduate school search, look through The Short List: College, The Short List: Grad School, and The Short List: Online Programs.
A college degree will pay off in the long run, according to the data. According to median earnings statistics from the Bureau of Labor Statistics, workers with a bachelor’s degree make roughly $500 more per week than those with only a high school diploma. In addition, according to a study from Georgetown University’s Center for Education and the Workforce, a bachelor’s degree is worth $2.8 million on average over a lifetime.
Given the long-term benefits, some students may find it advantageous to take out loans to pay for college and repay the debt over their careers. On the other hand, because students accumulate debt before it begins to pay off, it might be regarded as a cost of entry into a rewarding job.
Colleges Where Students Graduates Have the Most Debt 2021
|SCHOOL ( STATE)||AVERAGE DEBT LOAD, CLASS OF 2019||GRADUATING STUDENTS WHO BORROWED|
|Maine Maritime Academy||$56,897||95%|
|University of Detroit Mercy||$55,097||66%|
|Alabama State University||$54,177||89%|
|Bryant University (RI)||$53,350||65%|
|Carthage College (WI)||$52,809||82%|
|University of New England (ME)||$52,073||87%|
|National University (CA)||$50,166||71%|
|Nazareth College (NY)||$49,827||88%|
|Drexel University (PA)||$49,541||67%|
|Mills College (CA)||$49,333||72%|
Students should think about how much money they will need to pay for education before taking out a loan. While taking out student loans may seem like a good idea, overborrowing might result in a bigger debt load and possibly more years of payments. Therefore, prospective students should think about how much student loan debt they can realistically manage in the future as part of their college search.
In an annual poll conducted by U.S. News, 1,008 ranked universities provided information on average student loan debt for 2019 graduates. This information is for first-year students who paid for college using federal and private loans, excluding parent loans, and graduated with a bachelor’s degree. The average student loan debt across these colleges was $30,037.
However, the number was substantially higher among the ten universities with the highest debt levels: $52,327, more than $22,000 higher than the national average. Again, Maine Maritime Academy is at the top of the list, with 2019 graduates having borrowed an average debt of $56,897, over $27,000 higher than the national average.