ERIC Number: ED572307
Record Type: Non-Journal
Publication Date: 2016-Aug
Pages: 31
Abstractor: ERIC
ISBN: N/A
ISSN: N/A
EISSN: N/A
Cumulative Student Loan Debt in Minnesota, 2015
Williams-Wyche, Shaun
Minnesota Office of Higher Education
To better understand student debt in Minnesota, the Minnesota Office of Higher Education (the Office) gathers information on cumulative student loan debt from Minnesota degree-granting institutions. These data detail the number of students with loans by institution, the cumulative student loan debt incurred at that institution, and the percentage of students with loans for the 2011-2012, 2012-2013, 2013-2014, and 2014-15 academic years. This is the second report of institution-level cumulative student loan debt data for all types of degrees and all types of institutions in Minnesota. The Office conducted a survey of Minnesota institutions to obtain median cumulative student loan debt by type of certificate/degree from degree-granting institutions. Cumulative student loan debt refers to the total debt incurred while a student attends a specific institution. Debt incurred from previous institutions is not included. Cumulative debt is only reported for students that completed a certificate or degree at the given institution. The debt figures include debt from federal, state and private sources that is known to the institutions. In addition, students with no debt are not included in the median. Individual private institutions provided the cumulative student loan debt for their graduates with loans. The University of Minnesota and Minnesota State Colleges and Universities provided the data for their graduates from their central offices. Some of the key findings include: (1) Students continue to rely on loans to finance their postsecondary education; (2) Student debt increases as the level of degree and specialization increases; and (3) At the associate and bachelor's degree levels, students graduating from for-profit institutions borrow more, on average, than students at public and private non-profit institutions.
Descriptors: Debt (Financial), College Students, Student Loan Programs, Surveys, Educational Finance, State Colleges, Private Colleges, Paying for College, Specialization, Associate Degrees, Bachelors Degrees, Masters Degrees, Doctoral Degrees, Loan Repayment, Loan Default
Minnesota Office of Higher Education. 1450 Energy Park Drive Suite 350, St. Paul, MN 55108-5227. Tel: 800-657-3866; Tel: 651-642-0567; Fax: 651-642-0675; Web site: http://www.ohe.state.mn.us
Publication Type: Reports - Research; Numerical/Quantitative Data
Education Level: Higher Education; Postsecondary Education; Two Year Colleges
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Minnesota Office of Higher Education
Identifiers - Location: Minnesota
Grant or Contract Numbers: N/A