Minnesota Has The 6th Highest Average Student Debt In America
My family is from North Dakota. I remember that when my brother was looking at colleges, the University of Minnesota was one of his choices. Unfortunately, the higher tuition compared to other schools made him have to pass up on being a Gopher. That’s one of the reasons I ended up staying in North Dakota for college myself.
It’s recently been revealed that Minnesota has one of the best public school systems in the country – still trying to catch up to you, Wisconsin – but when it comes to the issue of student debt, it looks like we’re unfortunately near the top.
A new study from WalletHub lists Minnesota as having the 6th highest average student debt in the nation. I had no idea we were that high. Here are a few other statistics:
- 5th highest in proportion of students with debt
- 2nd in percentage of student-loan borrowers aged 50+
- 29th in availability of paid internships
So basically, if you went to college in Minnesota, odds are that you’re probably feeling the pain when it comes to student debt. You're definitely not alone. It’s hard to say what can be done to fix this issue, but there is one small bit of good news: the unemployment rate in Rochester is still near rock bottom. So there's that!