CFED Scorecard

Financial Assets & Income

Outcome Measures

Income Poverty Rate

Asset Poverty Rate

Asset Poverty by Race

Asset Poverty by Gender

Asset Poverty by Family Structure

Liquid Asset Poverty Rate

Liquid Asset Poverty by Race

Liquid Asset Poverty by Gender

Liquid Asset Poverty by Family Structure

Extreme Asset Poverty Rate

Net Worth

Net Worth by Race

Net Worth by Income

Net Worth by Gender

Net Worth by Family Structure

Unbanked Households

Underbanked Households

Consumers with Subprime Credit

Borrowers 90+ Days Overdue

Average Credit Card Debt

Bankruptcy Rate

Policy Priorities

Tax Credits for Working Families

State IDA Program Support

Lifting Asset Limits in Public Benefit Programs

Protections from Predatory Short-Term Loans

Additional Policies

Income Tax Threshold

Tax Burden by Income

Prize-Linked Savings

Paperless Payday

Trend Indicators

Change in Net Worth

Change in Asset Poverty

Change in Liquid Asset Poverty

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Average College Graduate Debt

Definition

Average debt of graduating students of four-year institutions, 2010.

Description

For many low- and middle-income students, high tuition costs are a barrier to college entrance and completion. Usually, students and families must take out student loans in order to afford post-secondary education, and these loans can be a huge challenge to pay back, especially in the current economic climate. According to the Project on Student Debt, average student debt rose by 6% between 2008 and 2009, while the annual unemployment rate for recent college graduates were the highest on record. As the debt of college graduates continue to trend upwards, the reality of a college education and access to better jobs will continue to be out of reach for more and more low-income Americans.

This measure provides data on graduates from four-year public and private nonprofit institutions. Students at for-profit colleges are excluded, as many of these institutions do not report student debt data. However, national surveys by the U.S. Department of Education indicate that students at for-profit colleges often take on more debt than students at nonprofit schools.

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Average College Graduate Debt

StateAverage Debt
of Graduates ($)
Rank
United States  $25,250   
Alabama  $24,821  37 
Alaska  $22,717  24 
Arizona  $18,454 
Arkansas  $21,408  16 
California  $18,113 
Colorado  $22,017  19 
Connecticut  $25,360  38 
Delaware  $21,500  17 
District of Columbia  $24,191  34 
Florida  $21,184  14 
Georgia  $18,888 
Hawaii  $15,550 
Idaho  $24,178  33 
Illinois  $23,885  31 
Indiana  $27,001  43 
Iowa  $29,598  48 
Kansas  $22,280  22 
Kentucky  $19,375 
Louisiana  $24,548  35 
Maine  $29,983  49 
Maryland  $21,750  18 
Massachusetts  $25,541  39 
Michigan  $25,675  40 
Minnesota  $29,058  47 
Mississippi  $22,142  21 
Missouri  $22,601  23 
Montana  $22,768  25 
Nebraska  $21,227  15 
Nevada  $16,622 
New Hampshire  $31,048  50 
New Jersey  $23,792  30 
New Mexico  $16,399 
New York  $26,271  41 
North Carolina  $20,959  13 
North Dakota  —  — 
Ohio  $27,713  44 
Oklahoma  $20,708  11 
Oregon  $23,967  32 
Pennsylvania  $28,599  46 
Rhode Island  $26,340  42 
South Carolina  $23,623  28 
South Dakota  $23,171  26 
Tennessee  $19,957 
Texas  $20,919  12 
Utah  $15,509 
Vermont  $28,391  45 
Virginia  $23,327  27 
Washington  $22,101  20 
West Virginia  $23,678  29 
Wisconsin  $24,627  36 
Wyoming  $20,571  10 

Source

Student Debt and the Class of 2010. Oakland, CA: Institute for College Access & Success, Project on Student Debt, 2011.

"—" indicates that no data is available.

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