OAKLAND, CA (KXNT) – The Institute For College Access and Success (TICAS)has a new report out about student loan debt — and Nevada students are fairly very well in that area as opposed to the rest of the nation.
Student Debt and the Class of 2016, TICAS’ 12th annual report on debt for bachelor’s degree graduates of public and non profit colleges, finds that Nevada students have some of the lowest average student loan debt in the nation. According to the report, the average debt load at graduation in 2016 in Nevada was $24,128, and slightly more than half (52%) of students in the state graduated with debt.
“College is one of the biggest investments Americans make, yet many are making choices with basic information, including how much debt they can expect to graduate with, which varies wildly from college to college and state to state,” said Debbie Cochrane, TICAS Vice President and report co-author. “We need to make college more affordable and reduce burdensome debt, while giving students and policy makers the information they need to make wise decisions and investments,” Cochrane said.
The most important steps states can take to lower students’ reliance on debt are to increase need-based state agent aid and the funding of public institution to keep students’ cost down. Many of the highest debt colleges could also o more to reduce students’ debt loads, the new report said. Collectively, colleges where indebted graduates had on average at least $40,000 in debt reported spending $465 million of thier institutional grant aid on students without financial need–students who either could afford to pay their total college costs (as determined through a federal calculation) or whose need for aid had already been met.
An interactive map with details for all 50 states, the District of Columbia, and more than 1,000 public and non profit four-year colleges is available at https://ticas.org/posd/map-state-data.