According to LendEDU’s Student Loan Debt by School by State report for 2017, the average student loan borrower attending college in Illinois is left with $28,479 in student loan debt.
When compared to the same LendEDU report from a year ago, the average debt per student loan borrower in Illinois has actually decreased by 3.75 percent. Illinois’ average debt per borrower is the 24th highest in the United States. Additionally, 64 percent of college graduates in the state of Illinois have student loan debt.
In comparison, the nationwide figure for average student loan debt per borrower is $27,975, only slightly less than Illinois’ average.
Some schools in Illinois do saddle student loan borrowers with more debt than other institutions. Eureka College gave the average student loan borrower the most debt in the entire state: $40,681. Eureka’s average debt per borrower has increased by a whopping 26.53 percent year-over-year. 88 percent of Eureka graduates have student loan debt, which represents a year-over-year increase of 3.53 percent. Eureka College’s average debt per borrower is the 56th highest in the country.
Rockford University gave the average student loan borrower $40,313 in student loan debt, which was the second highest average in Illinois. 84 percent of Rockford attendees leave the school with student loan debt. Rockford’s average debt per borrower is actually up by 4.98 percent from this point last year.
Saddling the average student debtor with $36,877 in student loan debt, MacMurray College has the third highest average debt per borrower figure in the state. For MacMurray, $36,877 is actually 9.28 percent less than the school’s average debt per borrower figure from last year. MacMurray College’s average student loan debt per borrower is the 156th highest in the U.S.
Lewis University, a private institution in Illinois, gave the average student loan borrower $36,073 in educational debt, the fourth highest average in the state. Lewis’ average debt per borrower figure has seen a year-over-year increase of 16.17 percent. 81 percent of Lewis University graduates receive their diploma with student loan debt, which represents a yearly increase of 5.19 percent.
Finally, the School of the Art Institute of Chicago rounds out LendEDU’s top five Illinois schools that leave borrowers with the most student loan debt. The average borrower at that school can expect to have $36,073 in educational debt. The Chicago-based art institution has seen a year-over-year decrease of 15.78 percent when it comes to the average debt per borrower. Less than half of this school’s graduates, 48 percent, leave the institution with student loan debt.
Author: Dave Rathmanner
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