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Mon October 7, 2013
Report: Soaring Student Debt In NH A Result Of Several Factors
A new report attempts to get to the bottom of why student debt is so high among New Hampshire colleges and universities.
The report’s conclusion?
There is no one single answer.
The report, commissioned by Granite State Management and Resources, cites several key reasons, including the lack of low-cost public colleges.
Research Brian Gottlob says New Hampshire also has a higher average income, which leads to families receiving less need-based aid.
“You combine that with attendance at relatively high-cost institutions, and the combination results in higher debt levels for our residents.”
According to the Project on Student Debt, students graduating from Granite State schools last year left with the highest average debt load: $32,440.
Here's a handy chart put together by The Exchange on colleges costs this year.
There’s been some good news for students and families of late.
Tuition at the University System of New Hampshire’s schools was frozen for in-state students for the next two years, after lawmakers restored much of the funding cut to the system in the last budget.
It was first time tuition didn’t increase in 25 years.
Community colleges also froze tuition this year.
The report also finds that the low levels of grant aid being given at the state's public colleges is also leading to higher student debt.
The report does not make any recommendations to lawmakers or schools on ways to lower student debt.
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