The most complete measure of college in Minnesota is out. The new Office of Higher Education report, released Thursday, delves into the statistics behind who starts, completes and pays for two- and four-year degrees. It shows that, compared with the rest of the country, more Minnesotans borrow to finance their education, "and they tend to borrow more," said Larry Pogemiller, the office's director. Here are the highlights:
218 percent
The rise in educational borrowing between 1998-99 and 2008-09. That compares with 41 percent -- the growth in per-capita personal income during that time. The total amount borrowed also climbed faster than tuition and fees, which rose from 81 to 133 percent through those years, depending on the type of school.
70 percent
The portion of Minnesotans graduating from public four-year universities with student loans. The average total amount borrowed was $27,600. That's significantly higher than the national average of 56 percent of such students borrowing, with an average total of $21,800. About 74 percent of students graduating from Minnesota's private nonprofit colleges took out student loans. Their average total was $31,400. The for-profit sector had the highest percentage of borrowers: 99 percent.
60.6 percent
The share of students at four-year schools who graduated within six years. Graduation rates are improving, across the board. At the Minnesota State Colleges and Universities system's four-year universities, students who graduated within six years rose from 40 percent in 1998 to 48 percent in 2010. At the University of Minnesota, they grew from 44 percent in 1998 to 65 percent in 2010. At private nonprofit colleges, the six-year rate rose from 66 percent in 1998 to 72 percent in 2010.
41 percent
