Question of the Day: What was the average amount of student debt for 2020 college graduates?
- Does the number “$29,927” seem like a high average amount of debt? Why or why not?
- What do you predict will happen to the average amount of student loan debt taken over the next 5 years? Why?
- Explain how and why you are concerned about student debt. What can you do to minimize your debt when you graduate?
Behind the numbers (US NEWS):
"College graduates from the class of 2020 who took out student loans borrowed $29,927 on average, according to data reported to U.S. News in its annual survey. That's around $5,000 more than borrowers from the class of 2010 had to shoulder – representing a 20% increase in the amount students borrow.
The average debt of graduates varies based on institution type, per U.S. News data. Those who graduated in 2020 from a ranked private college borrowed more on average, at $32,029, than public college graduates, who took out $26,627."
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