On Tuesday, the Project on Student Debt released its report on student loan debt for the class of 2014, and it contains good news: Utah has the lowest average student debt in the country, at $18,921. Only 54 percent of Utah college students take out student loans, the seventh-lowest in the nation.
In fact, the average amount of student debt in Utah has actually decreased since last year: in 2013, Utah students took out an average of $22,418 to help pay for college (with 52 percent of Utah college students taking out student loans).
Report highlights:
- Utah is one of only two states with an average student debt under $20,000.
- High-debt states remain concentrated in the Northeast and Midwest, and low-debt states are mainly in the West.
- The average U.S. student debt in 2004 was $18,550—nearly the same average student debt in Utah in 2014.
Keeping tuition low and informing Utahns of financial aid opportunities
Utah has the 3rd lowest tuition for public four-year colleges and universities in the country. The Utah State Board of Regents, with the support from the Governor and Utah Legislature, has worked to keep tuition low in the state, so that higher education remains accessible to all Utahns. In fact, one of the strategic objectives of the Board of Regents is “Affordable Participation,” the goal of which is to increase the number of Utahns who decide to access, are prepared for, and succeed in higher education.
The Utah System of Higher Education raises awareness of financial aid opportunities and hosts events throughout the year to spread the word to K-12 students and parents about financial aid opportunities. USHE hosts over 20 regional “You CAN Pay for College” events each fall to help inform junior high and high school students and parents about the various ways to pay for college, and organizes Free Application for Federal Student Aid (FAFSA) open house events around the state each spring, to guide students as they fill out this critical application. For more on these events, visit StepUpUtah.com.
State-by-state comparison data
Sort the table below for comparison data with other states: