Student debt trends
January 13, 2015
Student loans may make paying for college a bit easier while in school. However, have you thought about how paying for it will be after graduation?
About 62 percent of ISU students are graduating with loan debt and the average amount is $28,880.
If a student were to agree to a standard repayment plan of 10 years, that would translate to $240 for 120 months. And that’s not counting interest.
Here’s a look at student debt trends of the last 10 academic years:
2005-06
Percentage of students who graduated with debt: 69
Average indebtedness of ISU grad with debt: $32,000
Resident undergrad/ grad tuition: $4,890 / $5,708
Nonresident undergrad/ grad tuition: $14,980 / $15,720
2006-07
Percentage of students who graduated with debt: 70.4
Average indebtedness of ISU grad with debt: $31,501
Resident undergrad/ grad tuition: $5,086 / $5,936
Nonresident undergrad/ grad tuition: $15,580 / $16,350
2007-08
Percentage of students who graduated with debt: 71.1
Average indebtedness of ISU grad with debt: $31,616
Resident undergrad/ grad tuition: $5,352 / $6,246
Nonresident undergrad/ grad tuition: $16,110 / $16,906
2008-09
Percentage of students who graduated with debt: 71.2
Average indebtedness of ISU grad with debt: $30,411
Resident undergrad/ grad tuition: $5,524 / $6,446
Nonresident undergrad/ grad tuition: $16,514 / $17,330
2009-10
Percentage of students who graduated with debt: 68.8
Average indebtedness of ISU grad with debt: $30,062
Resident undergrad/ grad tuition: $5,756 / $6,716
Nonresident undergrad/ grad tuition: $16,976 / $17,816
2010-11
Percentage of students who graduated with debt: 68.5
Average indebtedness of ISU grad with debt: $29,455
Resident undergrad/ grad tuition: $6,102 / $7,120
Nonresident undergrad/ grad tuition: $17,668 / $18,548
2011-12
Percentage of students who graduated with debt: 65.4
Average indebtedness of ISU grad with debt: $30,374
Resident undergrad/ grad tuition: $6,408 / $7,476
Nonresident undergrad/ grad tuition: $18,280 / $19,192
2012-13
Percentage of students who graduated with debt: 61
Average indebtedness of ISU grad with debt: $29,808
Resident undergrad/ grad tuition: $6,648 / $7,756
Nonresident undergrad/ grad tuition: $18,760 / $19,695
2013-14
Percentage of students who graduated with debt: 62
Average indebtedness of ISU grad with debt: $28,880
Resident undergrad/ grad tuition: $6,648 / $7,848
Nonresident undergrad/ grad tuition: $19,200 / $20,158
The Board of Regents voted to freeze resident undergraduate tuition for the third time in a row, a historic decision in Iowa, but the legislature must determine the budget.
To read about how a few ISU alumni are dealing with their debt, click here