2018年美国大学生债务报告-2019.9-32页_538kb

Student Debt and the Class of 2018 Summary

Core Content

This report, Student Debt and the Class of 2018, is the 14th annual publication by the Institute for College Access & Success (TICAS) analyzing student debt trends among recent college graduates. It highlights national and state-level data on debt at graduation, repayment success, and the factors contributing to student debt burdens.

Key Findings

• National Debt Trends:

  • About 65% of graduating seniors from public and private nonprofit colleges had student loans in 2018, the same percentage as the Class of 2017.
  • The average debt for these graduates was $29,200, a 2% increase from the 2017 average of $28,650.
  • Approximately 17% of this debt came from nonfederal loans, which are typically more expensive and less protected than federal loans.
  • The growth in student debt has slowed, with increases in state funding and grant aid likely playing a role.
  • Despite this slowdown, student debt remains a pressing issue, especially for low-income, Black, and first-generation graduates.

• State-Level Debt Variations:

  • High-Debt States: Connecticut ($38,669), Pennsylvania ($37,061), New Hampshire ($36,776), and others.
  • Low-Debt States: Utah ($19,728), New Mexico ($21,858), and others.
  • The percentage of graduates with debt ranged from 36% (Utah) to 76% (New Hampshire).
  • In 21 states, the average debt exceeded $30,000.
  • High-debt states are concentrated in the Northeast, while low-debt states are mainly in the West.

• College-Level Debt Variations:

  • Debt levels at colleges vary widely, from $2,500 to $61,600.
  • Only about half of public and nonprofit four-year colleges reported debt data for the Class of 2018.
  • 19 colleges reported that at least 90% of their graduates had debt.
  • Factors influencing debt include tuition costs, availability of financial aid, living expenses, and demographic composition.

Repayment Success

• Overall Repayment:
  • Bachelor's degree recipients are generally better positioned to repay their loans compared to other students.
  • However, default rates vary significantly among groups:
    • Black graduates: 21% defaulted within 12 years of entering college.
    • Pell Grant recipients: 11% defaulted, compared to 2% for higher-income peers.
    • First-generation graduates: 10% defaulted, compared to 4% for students with college-educated parents.
    • For-profit college graduates: 30% defaulted, which is seven times the rate for public college graduates and six times the rate for nonprofit college graduates.

Policy Recommendations

• Federal Recommendations:

  • Collect more comprehensive college-level debt data.
  • Increase Pell Grant funding and restore its automatic inflation adjustment.
  • Improve consumer information and strengthen college accountability.
  • Protect private loan borrowers by expanding protections and repayment options.

• State and Institutional Actions:

  • Invest in state funding for public colleges to reduce reliance on tuition.
  • Expand need-based aid and financial support programs.
  • Improve transparency and affordability information for students.
  • Address inequities in debt burdens, especially for vulnerable groups.

Methodology Notes

• Data on student debt is limited, as not all colleges report it.
• The report uses voluntary data from about half of public and nonprofit colleges, representing over 70% of graduates.
• A companion interactive map provides detailed state-level data at https://ticas.org/interactive-map/.

Conclusion

While the report notes a slowdown in the growth of student debt, the persistent burden remains a major concern. Affordability and equity in higher education are critical issues that require continued investment from both federal and state governments, as well as institutional reforms to support students and reduce debt disparities.