Minnesota 5th in Student Loan Debt

Minnesota5The burden of student loan debt affects students and graduates nationwide (7 in 10 seniors who graduated in 2014 had student loan debt), but in Minnesota it’s even worse.

Minnesota ranks 5th highest in the amount of debt students have at graduation, with an average debt of over $31,000.

10 years ago, the average debt for a Minnesota graduate was much lower, at $19,580. The recent surge in debt highlights the seriousness of this crisis.

The Institute for College Access and Success’ president said:

Student debt has rightly become a major policy issue. Students and families need better information and better policies to make college more affordable and debt less burdensome.”

We couldn’t agree more.