Saturday, November 2, 2019

Michigan’s average student debt rose $10K in a decade. That's had consequences. - Mark Johnson, Lansing State Journal

Among students who left WMU at the same time — the 73% of them who took out loans, at least — the average debt was $33,864. For public university graduates across the state, it was $31,791. Student debt ballooned after the Great Recession and, though the growth has slowed, the numbers have continued to rise. The average debt load for Michigan public university graduates rose by more than $10,000 between 2007-08 and 2017-18. Even after adjusting for inflation, it's a 24% increase. But debt doesn't look the same at every school. At the University of Michigan, the average debt has fallen by 9% over the past decade after adjusting for inflation. It dropped by 3% at the University of Michigan-Dearborn. At Michigan State University, it's gone up by 56%, at WMU by 53%.

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