Report shows changes in Connecticut student loan debt from 2007 to 2017
The average student loan debt per borrower reported by 922 colleges and universities nationwide increased 25,505 to 10,500 to 49,941. The share of students with debt in 2017 ranged from 16 percent at Yale to 90 percent at the University of Saint Joseph.
The data showed that over the decade, average debt at Connecticut College increased from 31,884, while the share of students with debt increased from 35 to 46 percent.
Nationwide, only 41 of the 922 colleges saw decreases in both average debt and the percentage of students with debt.
Brown noted that student loan debt is the second-largest form of consumer debt, behind only mortgage debt. He particularly hopes that financial aid administrators and lawmakers look at LendEDU’s report.