Wednesday, May 22, 2019
Hawai'i Free Press

Current Articles | Archives

Thursday, September 20, 2018
Hawaii Student Debt Averages $25,125
By News Release @ 5:54 PM :: 1270 Views :: Hawaii Statistics, Higher Education

REPORT: Class of 2017 Four-Year Graduates’ Average Student Debt Is $28,650 Disparities in student loan burdens and defaults need increased attention

LINK: Hawaii Data  (Average debt $25,125, 42nd in USA)

News Release from The Institute for College Access & Success September 19, 2018

Oakland, CA - New data show that the average student debt for college graduates continues to climb but at a slower pace, according to a report released today by The Institute for College Access & Success (TICAS). Nationally, about two in three (65 percent) college seniors who graduated from public and private nonprofit colleges in 2017 had student loan debt. These borrowers owed an average of $28,650, 1 percent higher than the 2016 average.

“While student loans can be an excellent investment, there is a crisis among the millions of students who struggle to repay their loans, and they are disproportionately students of color or from low-income families,” said James Kvaal, TICAS president. “We need to invest more in student aid and in colleges to reduce students’ need to borrow, and make their loans easier to repay.”

The average debt held by four-year college graduates is an important benchmark for college affordability over time and across states because it measures debt levels for students at a comparable point in their academic careers. However, it does not tell the whole story on student debt. The burden of student debt is disproportionately borne by students of color, first-generation college students, and students from low-income families. For example, graduates from lower income families are five times as likely to default as their higher income peers, and 21 percent of Black college graduates defaulted within 12 years of entering college.

The reasons for the slower growth debt among four-year graduates in recent years are not yet known. The report discusses several recent trends that may have played a role. In recent years, states began reinvesting in higher education following the Great Recession and the federal government invested more resources in Pell Grants. Yet states’ spending remains far below pre-recession levels, and the maximum Pell Grant currently covers just 28 percent of public college costs.

Wide Variation among States

Student Debt and the Class of 2017, TICAS’ 13th annual report on debt at graduation, finds wide variations in debt levels across states as well as colleges. Average student debt at graduation in 2017 ranged from $18,850 in Utah to $38,500 in Connecticut, and new graduates’ likelihood of having debt ranged from 38 percent in Utah to 74 percent in New Hampshire. High-debt states remain concentrated in the Northeast and low-debt states are mainly in the West.

Vulnerable Groups of Students Bearing Disproportionate Burden

“State and national averages mask important differences in who carries debt and whether they can repay it,” said Diane Cheng, research director at TICAS and a coauthor of the report. “It’s clear we need to do far more to protect the most vulnerable students. A college degree is a powerful tool for social mobility, but unaffordable student debt can hold borrowers back.”

The report also highlights the need for increased efforts to ensure that vulnerable students are not being disproportionately burdened by debt.

According to the report:

● More than eight in 10 Pell Grant recipients who earned bachelor’s degrees had student debt, and their average debt was $4,500 more than their higher income peers. Most Pell Grant recipients have family incomes of $40,000 or less.

● Additionally, Pell Grant recipients with bachelor’s degrees were more than five times as likely to default within 12 years as their higher income peers (11 percent versus 2 percent).

● More than one in five (21 percent) Black bachelor’s degree recipients defaulted within 12 years of entering college, a much higher rate than their white (3 percent) and Hispanic (8 percent) peers.

● First-generation bachelor’s degree recipients were more than twice as likely to default within 12 years than students whose parents had attended college (10 percent versus 4 percent).

● The report’s data do not include for-profit colleges because too few of them report the necessary data, but borrowers who attended for-profit colleges face particular challenges with student loan repayment. For example, three in 10 (30 percent) bachelor’s degree recipients who started at forprofit colleges defaulted on their federal student loans within 12 years of entering college, seven times the rate of those who started at public colleges (4 percent) and six times the rate of those who started at nonprofit colleges (5 percent).

Policy Recommendations

With far too many Americans continuing to shoulder burdensome student debt, the report puts forward a series of policy recommendations for the federal government, states, and colleges. Among those: the federal government should increase and strengthen Pell Grants and make new investments that supplement – not supplant – state funding for public higher education. States should shift merit-based aid to need-based aid, improve data systems, and adopt a Student Loan Borrower Bill of Rights. Colleges should examine debt data across demographics, set aside funds for student emergencies, and set clear, reasonable student budgets. Additional policy recommendations can be found in the full report.

NOTE: An interactive map with details for all 50 states, the District of Columbia, and more than 1,000 public and nonprofit four-year colleges is available at https://ticas.org/posd/map-state-data.

# # #

An independent, nonprofit organization, The Institute for College Access & Success (TICAS) works to make higher education more available and affordable for people of all backgrounds. Our Project on Student Debt works to increase public understanding of student debt and the implications for our families, economy, and society. For more information see www.ticas.org or follow us on Twitter and Facebook.

UH News: Hawaiʻi student debt among the lowest in the U.S.

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

808 State Update AM940

ABCDEFG Blog

ACA Signups Hawaii

ACCE

Affordable Hawaii Coalition

ALEC

Alliance Defending Freedom

Aloha Conservative Alliance

Aloha Life Advocates

Aloha Pregnancy Care Center

American Council of Trustees and Alumni

American Mothers of Hawaii

AMVETS-Hawaii

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Audit The Rail

Ballotpedia Hawaii

Better Hawaii 

Blaisdell Memorial Project

Broken Trust

CAFR Hawaii

Castaway Conservative

Children's Alliance Hawaii

Children's Rights Institute

Christian Homeschoolers of Hawaii

Citizens for Recall

Cliff Slater's Second Opinion

Coffee Break

Conservative Forum for Hawaii

CSIS Pacific Forum

DAR Hawaii

DeedySupport.com

DVids Hawaii

E Hana Kakou Kelii Akina

E Māua Ola i Moku o Keawe

Farmers For Choice Hawaii

FIRE

Fix Oahu!

Follow the Money Hawaii

Frank in Hawaii

Front Page Magazine

Frontline: The Fixers

Genetic Literacy Project

Get Off Your Butts!

God, Freedom, America

Grassroot Institute

Habele.org

Hawaii Aganst Assisted Suicide

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii Coalition Against Legalized Gambling

Hawaii ConCon Info

Hawaii Credit Union Watch

Hawaii Crime Victims' Rights

Hawaii Crop Improvement Association

Hawaii Debt Clock

Hawaii Defending Marriage

Hawaii Defense Foundation

Hawaii Families for Educational Choice

Hawaii Family Advocates

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii Firearm Community

Hawaii Fishermen's Alliance

Hawaii Future Project

Hawaii Gathering of Eagles

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii March for Life

Hawaii Meth Project

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Right to Life -- Big Island

Hawaii Right to Life -- Oahu

Hawaii Shield Law Coalition

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

Heritage Foundation

HI Coalition Against Legalized Gambling

HIEC.Coop 

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Homeless Crisis

Honolulu Navy League

Honolulu Traffic

Horns of Jericho Blog

House Minority Blog

House Republican Caucus YouTube

HPACC

Hump Day Report

I Vote Hawaii

If Hawaii News

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

Iowa Meets Maui

Jackson v Abercrombie

Jihad Watch

Judgepedia Hawaii

July 4 in Hawaii

Kahle v New Hope

Kakaako Cares

Kau TEA Party

Kauai Co GOP

Keep Hawaii's Heroes

KeyWiki

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Mauna Kea Recreational Users Group

MentalIllnessPolicy.org

Middle East Forum--The Legal Project

Mililani Conservatives for Change

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

Muslim Brotherhood in America

NAMI Hawaii

NARTH

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

National Wind Watch

New Zeal

NFIB Hawaii News

No GMO Means No Aloha

Northwest Economic Policy Seminar

Not Dead Yet, Hawaii

Now What I Really Think

NRA-ILA Hawaii

Oahu Alternative Transport

ObamaCare Abortion Hawaii

OHA Lies

Opt Out Today

OurFutureHawaii.com

Pacific Aviation Museum

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons 

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

Republican Party -- Hawaii State

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

Salvage The Rail

Save the Plastic Bag

School Choice in Hawaii

SenatorFong.com

SIFE Remington

SIFE W. Oahu 

Sink the Jones Act

Smart About Marijuana--Hawaii

St Marianne Cope

State Budget Solutions Hawaii

State Policy Network

Statehood for Guam

Tax Foundation of Hawaii

The Harriet Tubman Agenda

The Long War Journal

The Real Hanabusa

Time Out Honolulu

Truth About Trade & Technology - Hawaii

UCC Truths

Union Members Know Your Rights

US Tax Foundation Hawaii Info

Valor in the Pacific

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT