8 States Where Student Debts Are Out of Control
Rising levels of student debt have raised alarm bells in the minds of economists and recent college graduates alike. With a bachelor’s degree virtually indispensable in today’s workplace — and a master’s necessary in many fields, as well — many people, be they fresh out of high school or not, have found themselves needing to a seek a higher education in order to pay the bills.
The problem is that these days, college is far from cheap. Tuition for a four-year college can cost easily more than $10,000 per year, ranging all the way up to $50,000 or even more for top-of-the-line institutions. With many inbound college students finding themselves strapped for cash, their only option — aside from obtaining federal aid — is to seek loans to cover the difference between the costs of college and living and any income they might obtain in the meantime. This can amount to a crippling debt load by the time students graduate.
However, student debt rates are not the same across the nation: In fact, there is a surprising amount of variance, according to numbers collected by College In Sight. The average graduate of a four-year institution (or higher) with student debt has less than $20,000 of debt in Utah or Arizona. Let’s take a look at eight states at the other end of the spectrum, those with the highest amounts of student debt in the country.