States Vary In Growth Of Student Debt
Student Debt and the Class of 2014. By Debbie Cochrane, et al. The Institute for College Access and Success. Oct. 2015. 35 p.
“At the national level, 2014 graduates were a little more likely to have student debt than their peers in 2004 (69% of graduates compared to 65%), and those who borrowed left school with a lot more debt. Average debt at graduation rose 56%, from $18,550 to $28,950, more than double the rate of inflation (25%) over this 10-year period. The rate of growth varied widely between states. While the majority of states saw the average debt of new graduates with loans rise two to three times faster than inflation, in five states it grew even faster—at more than triple the inflation rate, and in four states the growth was at or below the inflation rate.” California is considered a “low-debt” state, with the average student debt level at $21,382.