Berea ranked fourth nationally with lowest student debt
LEXINGTON, Ky. (Nov. 4, 2015) — Class of 2014 graduates from Kentucky colleges and universities have some of the lowest student debts in the nation, according to a report from The Institute for College Access and Success. The report found that Kentucky Class of 2014 graduates have an average student debt of $25,939, the 32nd highest total of 49 states ranked. Delaware graduates have the most debt—$33,808—while Utah graduates have the least debt—$18,921.
Kentucky’s student debt is an 82 percent increase since 2004, when the Class of 2004 had an average student debt of $14,250.
Overall, 64 percent of Kentucky Class of 2014 graduates have student debt, the 18th highest total. Nevada and Wyoming leads the nation, with only 46 percent of graduates having student debt, while New Hampshire has the highest total at 76 percent. Only 52 percent of the Kentucky Class of 2004 had student debt.
Berea College ranks fourth nationally with an average student debt of $6,186. CUNY York College had the lowest average Class of 2014 debt at $4,745.
Nationally, 69 percent of Class of 2014 graduates had student debt for an average of $28,950. The Class of 2004 had an average student debt of $18,550, meaning the average student debt rose 56 percent, more than double the rate of inflation—25 percent—during the 10-year period.