University Student Debt Statistics

As I'm researching schools to apply to, I've started to worry a bit about student debt. Does anyone know what colleges or universities students generally accumulate the most debt from?

According to urban.org, a large portion of student debt in the U.S tends to come from both for-profit colleges and private nonprofit colleges. These institutions often have high tuition rates, which may lead students to take out larger loans. Additionally, students at these institutions may be less likely to graduate, which can make debt more difficult to repay.

While public colleges tend to have lower sticker prices, out-of-state students can also accumulate substantial debt if they attend a public college in a state where they do not reside, due to the higher out-of-state tuition fees. Similarly, graduate and professional degrees can often lead to higher levels of student debt, as such degrees require more years of schooling and higher costs of attendance.

However, remember that each case is unique and depends on a variety of factors, such as the individual's financial need, scholarships and grants they receive, their chosen field of study, and the region or city they choose for their education. It's important to use each school's Net Price Calculator (NPC) to better estimate your costs at each institution and to be strategic about your college financing decisions.

Before taking on any student loans, make sure to exhaust all other options, such as applying for scholarships and grants, and consider the graduate's likely salary. Don't borrow more than what you expect to earn in your first year after college, as it can make debt less manageable. Lastly, remember that higher-cost colleges might lead to higher earnings post-graduation, which could help with repaying any loans accumulated.