Which colleges have the most student loan debt?

It's a bit worrying to think about, but I'm hoping to be prepared for every aspect of college life. With that in mind, does anyone know which colleges typically have the most student loan debt? I'm not just interested in the raw numbers, but also the reasons. Is it due to high tuition rates or other factors? Any insight would be helpful.

The question of which colleges typically have the highest student loan debt is multifaceted, as several variables contribute besides just tuition costs. One key factor is the type of institution. Generally, students at private non-profit colleges tend to graduate with more debt than public college students, and students at for-profit institutions often accrue the most debt. This is due to private colleges (especially for-profits) often having higher tuition and fees than public institutions.

The cost of living in the area where the school is located also plays a significant role. Students attending schools in cities with a high cost of living might need to borrow more to cover housing and other living expenses.

Lastly, the university’s financial aid policy can significantly impact student debt. Some schools have robust financial aid offerings, primarily need-based aid, which can considerably reduce the amount students have to borrow.

As for the actual numbers, as per the latest data available, the University of Phoenix has been reported to have the most cumulative student loan debt according to Peterson's data collected in 2020. It's important to note, though, that the University of Phoenix is an online, for-profit university with a very large student body, which contributes to this cumulative total.

You should use the net price calculators available on each college's website to estimate your costs and potential aid at that specific college. This will give you a more tailored estimate based on your family's financial situation and can help you make a more informed decision.

It's also worth considering how well each college's graduates do on the job market, which would help you assess whether you could easily repay any loans. Default rates can be a useful proxy for this: if a school's default rate is high, its students may be struggling to find well-paying jobs.