Wis. ranks No. 8 in college grads with loan debt
- Associated Press
- December 6, 2013 - 10:50 AM
MILWAUKEE — Two out of every three people who graduated from a Wisconsin college last year entered the job market carrying debt from student loans, a rate that saddles the state with a No. 8 national ranking, according to a new report.
Sixty-eight percent of Wisconsin students were in debt, by an average of about $28,000, the Milwaukee Journal Sentinel reported (http://bit.ly/1aFW8pG ) Friday. The data are from the latest analysis by the Institute for College Access and Success.
The figures are based on estimates from federal data and also from information reported voluntarily by four-year public and private colleges.
University of Wisconsin System spokesman David Giroux said UW wants to be mindful of student debts, and added that Wisconsin's default rate is among the lowest in the country.
Scot Ross, the executive director of the liberal group One Wisconsin Now, said the ranking pointed to the need for state legislation to help student borrowers. He said borrowers aren't asking for a bailout but they deserve a system that treats them fairly.
State averages for debt ranged from $18,000 in New Mexico to almost $34,000 in Delaware.
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