LendEDU, a marketplace for private student loans, student loan refinancing, credit cards, personal loans, and other financial products, recently published its third Student Loan Debt by School by State Report. The annual report is a comprehensive analysis of student loan debt statistics for over 1,000 colleges and universities throughout the United States.
According to LendEDU, the total outstanding student loan debt now stands at to $1.52 trillion, making it the second largest form of consumer debt behind only mortgages. The average borrower from the Class of 2017 graduated with $28,288 in student loans, an increase from the Class of 2016’s average of $27,975.
At Villa Maria, making college affordable is a priority. Ninety-six percent of our students receive grants and scholarships, and 99% of students receive some form of financial aid. As a result, this year’s Student Loan Debt by School by State Report ranks Villa Maria College 157 out of 1,080 institutions for having one of the lowest average student loan debt figures in the United States.
Furthermore, Villa’s Class of 2017 has one of the lowest average student debt figures in the New York State and for all private institutions in the country. Within New York State, Villa Maria College ranked #11. Among all private schools, Villa Maria College ranked #70 among all similar schools in the nation.
LendEDU obtained its data from Peterson’s College Data’s Annual Financial Aid Survey, a voluntary study which collects responses from 1,080 4-year public and private higher education institutions.
For more information, visit https://lendedu.com/blog/average-student-loan-debt-statistics.