One of the interesting things in a recent NYT package about student debt is an interactive listing that includes school-by-school breakdowns of the average student debt for each school.
We were a bit surprised by the numbers from Capital Region schools (above). Even though Skidmore and Union College both have expensive sticker prices (both locally and nationally), their average graduate debt figures were among the smallest in this area -- and they had the lowest percentage of grads carrying student debt.
That result probably speaks to a few things about those schools: a) a not insignificant share of the students attending come from families that can help them cover the price and/or 2) many of the students whose families can't cover the cost probably aren't paying the full sticker price. In fact, Union says more than 60 percent of its students "receive some kind of financial assistance."
Contrast that to St. Rose and UAlbany. CSR had the highest average graduate debt -- with 86 percent of its graduates carrying debt. And UAlbany, though having one of the lower debt numbers probably as a result of its relatively inexpensive tuition, had by far the highest debt-to-tuition ratio.
The NYT interactive feature has more info and is worth checking out.
Noted: Americans now owe more in student debt than they do in credit card debt -- the total amount of outstanding student debt in the country is roughly $1 trillion. [USA Today]
Fine print: All the tuition and debt total numbers are for 2010 and via NYT, with one exception: NYT didn't have a tuition number for Union. So we pulled it from College Grotto's rankings for 2009-2010. It appears NYT pulled the numbers from The Project on Student Debt, from which we pulled the "grads with student debt" percentages. The debt:tuition ratio is our own calculation.
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