College Debt and Tips Source

Scholarship Need, Debt, and Tips


My Note

The more we can help our graduating seniors, the less each will likely have to borrow.  I know; I was 30-years-old when I had all of my debt paid.   Let’s help them!

College Student Loan Debt

We are all at least somewhat aware of the scope of college student loan debt.  Here’s a short list of facts:

  • Average student loan debt:  $30,000
  • Percent of college students who borrow annually to help cover costs:  60 %
  • Average number of college students who borrow annually:          12,250,000
  • Approximate number of student loan borrowers with outstanding loans today:  39,500,000
  • Total amount of outstanding student loan debt in the United States:  $1,100,000,000,000
  • Profit generated from student loan debt each year -        $20,360,000,000



Average Illinois Student Debt Level: 16th in Nation


Illinois Student Debt

Illinois students are among the largest borrowers in the nation. Students who graduated in 2014 from Illinois colleges left with average debt of $28,984 — ranking 16th among states in terms of debt burdens, according to the study. The number of students who must borrow to attend Illinois colleges is especially high too. Illinois ranks 11th of all states, with 67 percent of students finishing college with loans in 2014.

Debt levels differ greatly between states and institutions — ranging from $4,750 to $60,750 per college. The study points out that students could cut their debt substantially if they would take time to compare the costs of attending various public and private colleges before selecting a school.  Source:

Please get Help!

For Tips on Student Loans – Consult Student Loan Ranger

Student Loan Ranger, currently authored by American Student Assistance®, helps prospective and current students and recent graduates make sense of borrowing options, student debt and loan repayment. The national nonprofit also runs SALT®, a free educational resource that provides personalized tools to help young people borrow and repay their loans in a way that works for them. The organization’s e-book, “100+ Ways to Get Rid of Student Loans (Without Paying Them),” offers guidance on the options that may forgive, discharge or pay for all or a portion of a borrower’s student loans. Got a question? Email