Student loan debt highest among D.C. graduates
11/03/2010
By Credit.com Staff
Recent graduates are entering the work force with an average student loan debt amount of $24,000. But young adults matriculating at colleges and universities in the Washington, D.C., area can expect to pay a higher bill for their education. Data from the Project on Student Debt reveals the average debt carried by D.C. graduates is roughly $30,033. This amount is in stark contrast with the loans carried by students in the lowest debt state of Utah, which averages $12,860.
George Washington University Student Financial Assistance director Dan Small believes D.C. students carry higher debt due to the high cost of living in the area, the university newspaper the Hatchet reports.
"Also, we do not have the state support other schools may have from their state government," Small said. "The total amount of aid provided to students attending a D.C. school comes from the institution."
Young adults should take location and the cost of living into consideration when deciding on a college, as these factors play a large role in how much financing they will need.
