Louisiana has 19th lowest average debt per student borrower
The average debt per borrower for LSU’s graduating class of 2017 was $24,933, a 0.95% increase from 2016 but still below both state and national lending averages, according to statistics released by LendEDU this morning.
Average private student loan debt for LSU graduates increased by nearly 9% since 2016 to $29,915. Seven percent of LSU graduates took out private student loans, a 16% increase from 2016, and 43% graduated with federal student loans.
In Louisiana, the average debt per student borrower is $26,808, the 19th lowest in the nation. Forty-eight percent of Louisiana students graduated with debt.
LSU ranked fourth lowest in the state behind Southeastern Louisiana University, the University of New Orleans and Louisiana Tech University. Southeastern graduates reported the least amount of student loan debt with the average borrower taking out $20,164, 14% less than last years statistics for the Hammond school.
Nationwide, LSU ranked No. 245. Pennsylvania graduates averaged the highest amount of student loans per borrower with $36,193, $3,000 more than Tulane University graduates, who had the highest average student loan debt in Louisiana. Utah graduates had the least amount of debt, averaging $18,425 per student.
The statistics are based off a voluntary survey conducted annually by Peterson’s College Data.