Question of the Day: What was the average amount of student debt for 2020 college graduates?

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Nov 22, 2021
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Question of the Day, Paying for College

Answer: $29,927

Questions:

  • 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? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

 

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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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.