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

Households with Savings Accounts

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

Change in Consumers with Subprime Credit

Change in Average Credit Card Debt

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Average College Graduate Debt

Reports & Graphics

Definition

Average debt of graduating students of four-year institutions, 2011.

Description

Many low- and middle-income students must take out student loans in order to afford postsecondary education, and in today’s economy, these loans can be a challenge to pay back. According to the Project on Student Debt, average student debt rose by five percent between 2010 and 2011, while the annual unemployment rate for recent college graduates continued to be high in 2011.  As the debt of college graduates continues to trend upwards, the high student loan debt burden may limit the ability of some to invest in future assets, such as a home.

This measure provides data on graduates from four-year public and private nonprofit institutions. Students at for-profit colleges are excluded in this measure, 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 institutions.

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Average College Graduate Debt

StateAverage Debt
of Graduates ($)
Rank
United States  $26,600   
Alabama  $25,192  27 
Alaska  —  — 
Arizona  $19,950 
Arkansas  $23,048  15 
California  $18,879 
Colorado  $22,283  11 
Connecticut  $28,783  44 
Delaware  —  — 
District of Columbia  $28,241  40 
Florida  $23,054  16 
Georgia  $22,443  13 
Hawaii  $17,447 
Idaho  $24,134  23 
Illinois  $26,470  34 
Indiana  $27,500  38 
Iowa  $28,753  43 
Kansas  $23,321  18 
Kentucky  $22,287  12 
Louisiana  $22,455  14 
Maine  $26,046  31 
Maryland  $24,002  21 
Massachusetts  $27,181  35 
Michigan  $27,451  37 
Minnesota  $29,793  46 
Mississippi  $23,537  20 
Missouri  $23,229  17 
Montana  $24,113  22 
Nebraska  $24,287  25 
Nevada  $19,954 
New Hampshire  $32,440  48 
New Jersey  $27,610  39 
New Mexico  —  — 
New York  $25,851  30 
North Carolina  $20,800 
North Dakota  $27,425  36 
Ohio  $28,683  42 
Oklahoma  $20,897 
Oregon  $25,497  28 
Pennsylvania  $29,959  47 
Rhode Island  $29,097  45 
South Carolina  $25,662  29 
South Dakota  $24,232  24 
Tennessee  $20,703 
Texas  $22,140 
Utah  $17,227 
Vermont  $28,273  41 
Virginia  $24,717  26 
Washington  $22,244  10 
West Virginia  $26,227  32 
Wisconsin  $26,238  33 
Wyoming  $23,341  19 

Source

Student Debt and the Class of 2011. Oakland, CA: Institute for College Access & Success, Project on Student Debt, 2012.

"—" indicates that no data is available.

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