LendEDU recently released the annual Student Loan Debt by School by State report for 2017, which revealed the 10 colleges and universities in the state of Pennsylvania that saddle the average student loan borrower with the least amount of educational debt.
Licensing the data from the annual Peterson’s financial aid survey, LendEDU is highlights a slew of student loan debt statistics that come from 1,161 four-year higher education institutions. This year’s data specifically refers to the Class of 2016.
When it came to the state of Pennsylvania, there were 10 institutions that left the average borrower with lower student loan debt than many of the other schools within the Keystone State.
Geneva College left its student loan borrowers with the least amount of student loan debt in PA. Although 90 percent of Geneva College graduates have student loan debt, the average graduate borrower at that school only owes $10,549 in educational debt. A private institution, Geneva College also ranked highly on a national level, finishing in the top 50 in terms of leaving graduates with the least amount of debt.
Coming in second was Haverford College where the average student loan borrower owes $13,000 in educational debt. Only 29 percent of Haverford alumni graduate with student loan debt. Compared to last year, Haverford College’s average student debt per borrower is down by 11.86 percent.
Bucknell University finished third in Pennsylvania when it came to LendEDU’s Student Loan Debt by School by State report. That school’s average debt per borrower was $22,600 while 53 percent of Bucknell graduates leave school with student loan debt. Interestingly, Bucknell’s average student debt per borrower is up 0.44 percent from last year.
Swarthmore College took the fourth spot when it came to the Pennsylvania colleges and universities that left students with the least amount of debt. Swarthmore gave the average student debtor $22,957 in student loan debt.
Leaving the average student loan borrower with $23,081 in educational debt, Bryn Mawr College ranked fifth in terms of low student debt levels among Pennsylvania school attendees. 52 percent of Bryn Mawr graduates have student loan debt while the school’s average debt per borrower decreased by 13.33 percent from last year.
The University of the Sciences saddled student debtors with $24,191 in student loan debt, good enough for sixth in Pennsylvania. 69 percent of graduates at the school finished with educational debt while only 19 percent of graduates had private student loan debt.
Prestigious and relatively affordable, the University of Pennsylvania gave the average student borrower $24,536 in student loan debt which was the seventh lowest total in the Keystone State. Only 31 percent of graduates at the Ivy League school had student loan debt which is up by a total of 10.71 percent from last year. Overall, UPenn’s average student debt per borrower is down by 6.20 percent from last year.
Finishing eighth on this list, California University of Pennsylvania left the average borrower with $25,683 in student loan debt which was down 8.27 percent year over year. California University of Pennsylvania is the highest ranked public institution in Pennsylvania that gave debtors the least amount of educational debt.
Point Park University gave the average student loan borrower $26,729 in student loan debt, good enough to finish ninth on the list. 80 percent of graduates from the aforementioned school were saddled with student loan debt. Point Park’s average student debt per borrower is down by 7.04 percent from last year.
Finally, Dickinson College rounds out the top 10 after leaving the average student borrower from the Class of 2016 with $26,908 in educational debt. 54 percent of Dickinson graduates have student loan debt which is 1.82 percent less than last year. Additionally, Dickinson’s average student debt per borrower is down by 4.27 percent.
Overall, LendEDU found that the average debt per borrower in the state of Pennsylvania was $35,185, which is up by 1.87 percent when compared to last year. Believe it or not, the Keystone State’s average student debt per borrower figure was the highest in the entire country.
Author: Mike Brown
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