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Ohio student-loan debt rising



Published: Thu, October 18, 2012 @ 2:45 p.m.

COLUMBUS (AP) — Average student-loan debt for graduating college students in Ohio is on the rise.

A report by the Project on Student Debt said Ohio students who borrowed for college and earned a bachelor’s degree in 2011 graduated with an average of $28,683.

That’s the seventh highest in the nation and a 3.5-percent increase over 2010.

The Columbus Dispatch reports that the Ohio average is nearly 8 percent higher than the national average. Like the previous year, 68 percent of the state’s 2011 graduates left school with at least some student-loan debt.

Ohio Board of Regents Chancellor Jim Petro said he will continue to push Ohio’s public colleges to keep their costs down and find ways to move students through school more quickly to reduce their debt.


Comments

1uselesseater(229 comments)posted 1 year, 11 months ago

$28k in debt? I don't believe it is that low.

A 4 year degree at YSU costs way more than that.

Many schools out there with far higher tuition, living costs, etc.

If we are so much into healthcare being a right and deem it should be "affordable" then shouldn't education be the same way?

If anything should be a not-for-profit business it ought to be education.

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2uselesseater(229 comments)posted 1 year, 11 months ago

It just dawned on me that this must be an "official" number taking only official student loan amounts into consideration.

All other debts incurred via other lending instruments aren't being counted.

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3southsidedave(4780 comments)posted 1 year, 11 months ago

I agree, 28K is a low figure. I would be interested in the percentage of loans that are in deferment or default.

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4TylerDurden(367 comments)posted 1 year, 11 months ago

You don't understand. Non-profit does not mean the institution does not try and make a profit. That is a big misconception.

Universities are still trying to operate in the black, they just don't pay taxes on that profit.

Universities still make business decisions that are profitable versus not profitable.

Universities have to run the place like a business becasue they have rising costs every year. Labor and utilities to name two.

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5uselesseater(229 comments)posted 1 year, 11 months ago

Oh @TylerDurden, I understand fully :)

You nailed the monster in the room with this:
"Universities are still trying to operate in the black"

Key word there is trying.

Most of them should have had their non profit status revoked many years ago. Buying up all the real estate near campus, building commercial real estate, opening other businesses aren't non profit activities.

People complain often about primary educators and their luxurious jobs. College professors have even cushier jobs with outrageous perks like tenure. They love those long paid sabbaticals.

Look at how much money goes into non-academics at our colleges and universities.

When was the last time you saw a university or college close due to operating in the black (losing money)? Anyone remember a single example?

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