Student loan debt impacts every state, but for some, it’s worse than others. Georgia may rank 31st in terms of student debt, but that doesn’t mean it’s easy sailing for its college graduates in the state. 59% of Georgia college graduates have student loans with the average debt coming in at $27,043.
But not all schools are created equal. Some schools in Georgia are going to cost more and thus result in more student debt than others. After all, Georgia has its fair share of state funded colleges and universities and private institutions. But that doesn’t mean attending a state school in Georgia is always going to be the cheaper route. LendEDU found in its 2016 rankings of the schools in Georgia with the most student debt that there’s one state school that makes the top five list.
Leading the pack in terms of student debt is Wesleyan College, the private liberal arts women’s college located in Macon, Georgia. It has average debt per borrower of $48,460. 43% of its graduates have at least one student loan. Savannah College of Art and Design, which has average student debt per borrower of $40,718, came in second. 58% of the art and design school’s graduates have at least one student loan (16% of these loans coming from private lenders).
Clark Atlanta University, a historically black private school, leaves its students with an average of $40,815 in student loan debt with 96% of all students taking out loans; they came in at third place. Out of the whole student body, 19% have private student loans amounting to $33,182 on average. Beulah Heights University, the private non-profit Christian school located in Atlanta, ranked fourth with students on average owing $40,000. Of its students, 78% have at least one loan.
While those four schools are private, they aren’t the only ones leaving students with a boatload of debt upon graduation. Students attending Albany State University in Albany, Georgia owe $39,014 on average with 93% of all students taking out a student loan. Additionally, students of Clayton State University in Morrow, Georgia owe an average of $30,423 with 84% of all students taking out at least one loan. All of the debt is higher than the national average for student loan debt which LendEDU pegs at $28,000.
Author: Dave Rathmanner
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