Updated:
Original:

Minnesota ranks No. 3 for highest college loan debt

College students in Minnesota carry the third-highest average loan debt in the nation, at $29,739 per student, according to a new report. And the state ranks No. 5 on a list of graduates who carry student loan debt – 71 percent. Nationwide, about two-thirds of students graduate with debt.
Author:

College students in Minnesota carry the third-highest average loan debt in the nation, at $29,739 per student, according to a report released Thursday by the California-based Institute for College Access and Success. Only Pennsylvania and New Hampshire had higher averages.

And Minnesota is No. 5 on a list that ranks graduates who carry student loan debt – 71 percent have debt in Minnesota.

For a list of Minnesota colleges and universities that shows average debt loads for each school, check out this report by the Project on Student Debt. The biggest debt loads in the state, according to this list, are at: Minneapolis College of Art and Design ($43,035); The College of Saint Scholastica ($41,282); Concordia University, St. Paul ($36,757).

Nationwide, about two-thirds of college students in 2011 graduated with an average of $26,600 in student loan debt, an increase of about 5 percent from the previous class, the New York Times reports.

Next Up

Joe Ryan

Joe Ryan continues his dominant September

The right-hander struck out 11 batters in a victory over the Cubs.

Mounds view 9 - crime scene

Man who allegedly shot at police dies after being struck by squad vehicle

The unidentified individual fired shots at police following an alleged domestic disturbance, police say.

Karl-Anthony Towns

Karl-Anthony Towns reacts to Gersson Rosas firing: 'WTF'

The Timberwolves star was just as surprised as everyone else

Mounds View shooting incident 1 - county sheriff - crop

Deputy uses squad car to ram armed assault suspect, sheriff's office says

The man had fired multiple shots at officers, striking two of their vehicles, authorities said.

Daniel Carlson

Ex-Viking Daniel Carlson has become one of the NFL's best kickers

Carlson has been automatic since joining the Raiders.

Dustin Sundin crop

'Vulnerable' adult missing after leaving with family member's dog, phone

Authorities found footprints in a creek bed, but haven't been able to locate the man.

Mounds view 7 - crime scene

Police 'use of force' incident reported in Mounds View

The Minnesota BCA is investigating, with more details expected soon.

vaccine, covid

The 8 Minnesota counties still below a 50% vaccination rate

Fewer than half of all vaccine-eligible individuals in these areas have received at least one shot.

Dave Simonett Trampled by Turtles

Trampled By Turtles singer responds to complaints about concert vax requirements

Some of TBT's recent appearances have required proof of vaccine/negative test.

BMTN - Target drive up bag booze

The 5 cent charge for carryout bags is coming back in Minneapolis

The ordinance was suspended at the start of the pandemic.

Related

Minnesota college students taking out more and bigger loans

The Office of Higher Education reports Minnesota students are taking out more loans and going deeper into debt. Overall borrowing was up ten percent in two years. Some of that is due to an increase in students but the office's director says it may also reflect more financial need amid the sluggish economy.

State officials fret over Minnesota student loan defaults

More than 9,500 higher education students in Minnesota have defaulted on federal student loans in the past three years, new data from the U.S. Department of Education shows, the Star Tribune reports. The overall default rate is lower than the national average, but state officials are still eyeing the statistics with concern.

Feds tell pair of MN colleges: 'No student loans for you'

Globe University, Minnesota School of Business can't accept federal student loan money in 2017