Student loan debt among the lowest nationally in Arizona

A recent study, “Student Debt and the Class of 2013,” reports that 2013 Arizona college graduates have one of the lowest national averages for student loan debt.

While student loan debt continues to rise, Arizona ranked 45th nationally with graduates who owe an average of $22,253 for a college degree from a public or private non-profit university in the state, compared with the national average of $28,400. Student loan debt in six states, including New Hampshire, Delaware, Pennsylvania and Rhode Island, exceeded $30,000. Almost all high debt states are in the Northeast and Midwest, whereas most low debt states are in the West and South.

In Arizona, college graduates from Arizona State University were reported to carry the least amount of debt, at $21,137, followed by University of Arizona graduates, at $22,497, and Northern Arizona University, at $23,718.

A KTAR article quoted the report that was released by The Project on Student Debt at The Institute for College Access and Success (ICAS), an independent non-profit organization focused on advancing accessibility and affordability in higher education.

In the KTAR article, ICAS director Debbie Cochrane noted that “most students graduating with a bachelor’s degree will see their investment in education pay off in the future ... The national unemployment rate is 7.8 percent whereas the average for people possessing high school diplomas is 16.5 percent.”