These Are The Colleges In Each State With The Least Debt

by McLeod Brown
Study - 2 years ago

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Student debt is a huge problem in America, and it’s one that no one seems to know how to fix.

However, there are those colleges that don’t load you up to your eyebrows with debt upon graduating.

We’ve already covered the states with the highest and lowest median debt for graduates. Now we’re looking at the colleges in each state whose graduates have the least debt.

Some background:

  • Americans owe over $1.48 trillion in student loan debt, spread out across 44 million borrowers
  • That’s $620 billion more than the U.S. credit card debt
  • The average student loan debt for the Class of 2017 was $39,400, up six percent from the year before
  • Median monthly student loan payment for borrower aged 20 to 30 years: $203

So respect to these schools for fighting the good fight.

These are the states with the 10 schools with the least debt for grads:

  1. South Carolina – Medical University of South Carolina
  2. New Jersey – Beth Medrash Govoha
  3. Kentucky – Berea College
  4. Texas – Parker University
  5. Massachusetts – Harvard University
  6. New York – United States Merchant Marine Academy
  7. Missouri – Logan University
  8. Iowa – Palmer College of Chiropractic
  9. North Carolina – Duke University
  10. Virginia – University of Management and Technology

Summary of findings

  • Medical University of South Carolina shows its students the most leniency with costs – graduates from the school have a median debt of just $4,000
  • Harvard leaves its grads with the least debt out of all schools in Massachusetts – median debt for grads is $6,500
  • Duke is the same for North Carolina – $7,500 median debt for their grads
  • Only one of the schools on the list topped the $20k mark – grads the University of Sioux Falls in South Dakota have a median debt of $22,750

How we did it

We used the Department of Education’s College Scorecard data for this research.

For each state, we focused on the variable GRAD_DEBT_MDN.

This figure represents the median debt for students who completed their studies at the school.

Additionally, we focused on predominantly bachelor’s degree granting institutions.

We sorted each state by this variable to find the school that leaves their grads with the least debt.

Now to find the school in your state that leaves grads with the least debt, check out this table.

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