Graduates aren’t just leaving college with a diploma and a dream. Many are stepping into the real world with a mountain of student loan debt.
Six in 10 students are more than $20,000 in the hole, according to a Rutgers University study conducted on college graduates from 2006 to 2011. Even more shocking a number is the total $1 trillion student loan debt across the country.
In a report released this week, the U.S. News & World Report examined the debt levels experienced by 2010 graduates at 1,009 colleges and universities. On average, graduates that year left school with $24,962 in outstanding loans. However, the report reveals that graduates from 10 private colleges are carrying nearly double the national average debt.
Topping the list is Eastern Nazarene College in Massachusetts, where 87 percent of the class of 2010 took out a student loan, totaling to an average of $51,336 in debt. The next schools on the list are:Ohio Northern University: $48,886; 85 percent of students borrowed Holy Names University (CA): $48,833; 79 percent of students borrowed University of New England (ME): $47,293; 88 percent of students borrowed Mount Ida College (MA): $46,393; 80 percent of students borrowed
For the full list go to U.S. News & World Report.
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