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Dayton Business Journal
College debt
for Ohio graduates ranks No. 7 nationally
by Laura Englehart, Staff Reporter
Thursday, October 18, 2012
The average student loan debt for 2011 graduates increased more than 5
percent from the previous year.
Students who borrowed for college and graduated with a bachelor’s
degree this past year had average debts of $26,600, up from $25,250 in
2010, newly released data from The Institute for College Access and
Success shows. More than two-thirds of students graduated with debt in
2011.
The 5 percent increase is similar to that of previous years, according
to the institute.
Ohio students graduated with an average of more than $28,600, the
seventh highest average in the country, according to the institute.
Ohio also ranks ninth nationwide for the number of students who
graduate with debt — 68 percent.
Graduates strapped with a heavy student-loan burden contribute less to
the local economy. They postpone or forego large purchases, such as
automobiles and houses, and they marry and have children later in life,
studies have shown.
Fortunately, the unemployment rate for recent graduates has fallen from
9.1 percent in 2010 to 8.8 percent in 2011.
Private college students in the Dayton region, on average, graduated
with higher debts.
Of four-year private schools in the region, Antioch University Midwest
graduates had an average debt of $40,000, University of Dayton
graduates had $36,331 and Cedarville University graduates had $27,279.
Of four-year public institutions in the region, Miami University
graduates had the highest average debt of $27,178, followed closely by
Wright State University graduates, which had $27,119…
Read the rest of the article at Dayton Business Journal
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