YUMA, Ariz- A new report shows Arizona college graduates had the 5th lowest student debt in the nation. Finishing their schooling with an average bill of less than $25,000.
The Institute For College Access and Success released a report on Tuesday which also said Arizona had a relatively low percentage of students graduating in debt 57% of state graduates are carrying debt, tied for 14th lowest in the nation.
Nationwide, 69% of students had college debt with the average bill coming in a little over $29,000.
The report, and experts who looked at it, said the numbers should be looked at with caution, since responses are voluntary and the results do not include numbers from for-profit institutions.
Tom Rush with Yuma Investment Group Wealth Management said, “Put the money away and right now a four year public school cost about $84,000 in four years. And the bottom line is that money has to come from somewhere and less that comes from student loans the less that they have to pay off.”
Utah had the lowest average debt for graduates, with the class of 2014 graduating with an average student debt bill of a little over $18,000.