But that's actually a good thing!
Students leave education with an average of $28,950 debt, a figure that is rising every year. And with 69% of students leaving with some debt it is easy to see why students are looking closely at where they attend. Costs can range vastly, from students in Utah graduating with $20,000 to those in New Hampshire leaving with $36,000. But how do graduates in Louisiana fare in comparison?
Where does Louisiana rank?
At 44th, Louisiana is one of the better states in the country for keeping student debt to a minimum. With an average debt of $23,025 per student, the state is very popular for those looking to save money whilst still receiving a great education and educational experience. Even more impressive is the percentage of students who leave with debt. With only 47% of students leaving education in Louisiana with a negative balance, the state ranks 46th for number of students in debt. These very positive figures are sure to entice students from across the country and create strong competition for places.
With student loan borrowers across the country struggling with debt, it is important to look into the reasons why each state is priced as it is. Are education fees higher? Is the cost of living less than neighboring states? Louisiana is cheaper than the US average in terms of living costs, with housing being the biggest contributing factor.
As with the cost difference between states, there is also a pricing difference between many of the universities and colleges. Public institutions' tuition and fees range from $7,873 per year at Louisiana State University, to $4,911 at Southern University at New Orleans. Private non-profit organizations range from $36,860 at Loyola University New Orleans, to $6,540 for New Orleans Baptist Theological Seminary. With such a range of costs it is important that students attend an institution that is best suited to them and that financially will not cause vast amount of debt in the future.
Louisiana has a wide range of educational institutions for every type of student. Many options are available and with statistics confirming that this state has competitive prices for its education those who are privy to attending one of Louisiana's establishments should be proud to be receiving a great education, but at a very reasonable price.