Student Debt is Increasing
Student Debt is at an all time high. This topic is more important to look at than ever before. Outstanding student debt has reached an all time high at $1.67 trillion. On top of that, the COVID Pandemic has students and parents evaluating the cost of college in light of an education in person versus an online education. The average borrower from the overall class of 2019 College Graduates was just under $30k per student.
For the fifth consecutive year, LendEDU presents our annual Student Loan Debt by School by State Report, an in-depth analysis of the most recent student loan debt figures at hundreds of colleges and universities across the United States.
LendEDU took a deep dive into this data to tell you the following statistics for the Class of 2019:
-
Average student loan debt per borrower by college, school type, state, & nationwide
-
Percentage of graduates with student loan debt by college, school type, state, & nationwide
-
Average private and federal student loan debt per borrower by college
-
Percentage of graduates with private and federal student loan debt by college
-
Each school’s and state’s overall average student loan debt per borrower rank in the U.S. (from lowest to highest debt per borrower)
-
Each school’s overall average student loan debt per borrower rank in its state (from lowest to highest debt per borrower)
-
Private institutions with the lowest & highest average student loan debt per borrower
-
Public institutions with the lowest & highest average student loan debt per borrower
By publishing the Student Loan Debt by School by State Report each year, it is our hope that both current and future college students, in addition to lawmakers and education administrators, can have productive conversations about student loan debt and the cost of college in the U.S.
How I helped my Kids Find Scholarships
I highly recommend you take a look at this data, it is very insightful in considering the impact student debt has on higher education.
As a parent of 4, 1 in medical school, 2 in college and 1 who will be in college soon, I am dedicated to helping students find funding for school to reduce their student debt.
In my efforts to help my students and my own children find scholarships for school, I found the process was overwhelming. I also did a survey of over 500 people to determine why they haven’t received scholarships or haven’t applied. Here is what I found….
Scholarships Process Overwhelming
I asked 3 important questions to help me gather the needed information.
-
What is your level of education?
2. Have you ever applied for scholarships and what were the results?
3. What kind of scholarships are you looking for?
The results weren’t surprising.
50% Don’t know where to apply for scholarships
20% Are overwhelmed by the process
37% Of the people looking for scholarships are parents of college students
27% Of the people looking for scholarships are parents of high school students
College Students and High School Students are also taking the initiative to find money for themselves to pay for their education.
44% Of People don’t have a financial need but are looking for scholarships
27% Do have a financial need and are actively looking for scholarships
These statistics tell me that people are willing to put in the work to find scholarships but don’t know where to look and feel overwhelmed in the process.
With over $40 Billion Dollars available in scholarships each year, I decided it was time to find a solution. I knew it could be done.
The easy and organized way to find scholarships
Having worked with students for over a decade, I’ve seen my students get just under $5 million in scholarships. The average amount of scholarship dollars my students receive is $21k. I wanted to find a way to help many more students. The scholarships are abundant and the process doesn’t have to be overwhelming.
Imagine Scholarships is the efficient and organized solution to a complicated process. Now more than ever, parents and students appreciate the ability to have an easy and organized approach to finding scholarships.
I hope you too, will benefit from this easy to navigate scholarship solution for your family. I”d love for you to join the hundreds of students I work with who are already benefitting from funding their education with scholarships.
Please don’t hesitate to reach out with any questions.
Sherri Graf
Imagine Scholarships
“Imagine where you can go with a scholarship and a dream”