Loan debt among the lowest for UB grads, study finds
The cost of a college degree can be crippling, but at the University of Bridgeport, students graduate with far less debt than their peers at most Connecticut institutions of higher education.
Out of 16 Connecticut colleges and universities, UB student loan debt is the fourth lowest in the state—averaging over $14,400.
By comparison, student loan debt maxed out at $37,000 at the University of New Haven, where debt was the highest in the state, according to an annual study released Friday by Student Loan Report.
Nationally, UB grads also fare better than students who’ve earned college degrees at both private and public universities across the U.S. Debt per graduate at private colleges and universities averages $19,394. At public institutions, loan debt stands at $15,591 per grad.
Student loans are a massive and growing problem.
According to Federal Reserve estimates, outstanding student loan debt grows by $2,726 a second. With over 43 million borrowers holding around $1.3 trillion in debt, many Americans feel the impact of student loans long after they graduate.
Helping students to attain a degree without becoming financially hamstrung is a priority at UB. Ninety-six percent of students receives some sort of financial aid.
And thanks to Connecticut Promise, a financial-assistance campaign launched in the fall of 2016, tuition for UB students who are state residents is capped so they pay no more than a public college education.
In its annual survey, Student Loan Report analyzed average student loan debt data from 1,238 colleges and universities around the nation. Average student loan debt per graduate includes loans taken out through any student loan lender, including both the government and private lenders. Transfer students who moved from school to school with debt were excluded from the results.
About the University of Bridgeport
The University of Bridgeport offers career-oriented undergraduate, graduate and professional degrees and award-winning academic programs in a culturally diverse learning environment that prepares graduates for leadership in an increasingly interconnected world. There are 400 full- and part-time faculty members, including Fulbright Scholars, National Science Foundation Fellows, Ford Fellows, National Endowment for the Humanities Fellows, American Council for Learned Societies Scholars, and Phi Beta Kappa Scholars. The University is independent and non-sectarian. For more information, please visit Bridgeport.edu.