One of the big things I'm worried about with college is student debt. Just wondering, ballpark, how many dollars in debt are most college graduates left with?
The average student loan debt for college graduates in 2022 was approximately $39,000. However, this amount can vary greatly depending on factors such as the type of the institution (for instance, private universities often lead to more debt than public ones), the state in which the school is located, the student's major, and whether or not the student received any scholarships or grants.
The question of student debt is indeed an important one and should factor into your decision-making process when choosing a college. This is why it's recommended that students and their families have open discussions about their financial circumstances, and review each school’s predicted financial aid opportunities in advance. The net price calculator available on every college's website can act as a helpful tool in this regard-- it provides an estimate of what your out-of-pocket expenses would look like at that particular institution.
Also, some universities are 'need blind' and meet 100% demonstrated financial need, which can significantly reduce the burden of student loans. Examples include schools like Vanderbilt. Be sure to research these possible opportunities when searching for colleges to apply to.
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