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Home›Saving Investment›Pennsylvania Ranks Third in Nationwide Student Loan Debt, Study Finds

Pennsylvania Ranks Third in Nationwide Student Loan Debt, Study Finds

By Brian D. Smith
March 9, 2021
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In Pennsylvania, students pay a high price for their graduate studies.

LendEDU study ranked Pennsylvania as the state with the third highest student debt ratio in the country.

The study found that 64% of 2019 graduates in Pennsylvania took out student loans, and the average borrower took out $ 38,521 in student loans. That’s up 8.48% from 2018 data, although that year Pennsylvania was ranked as the state with the highest student debt in the country.

LendEDU has collected and analyzed the most recent student debt figures from hundreds of colleges and universities across the United States and ranked every state, schools in every state, and schools as a whole based on the numbers from the debt.

This news comes amid the COVID-19 pandemic – a time when many families are assessing the true value of higher education. Almost half of high school students undecided are considering taking a gap year or online degree programs instead of traditional 4-year institutions.

Nationwide student debt outstanding has climbed to $ 1.67 trillion, according to the Federal Reserve.

Connecticut was ranked highest nationally for student loan debt, with 80% of 2019 graduates taking out loans averaging $ 41,578 per borrower. Utah was ranked lowest with an average of $ 16,633 in loans per borrower and 32% of 2019 graduates with loans.

The class of 2019 averaged $ 29,076 in loans per borrower, which was up $ 511 from the class of 2018.

Here is the ranking of schools in Pennsylvania: To read the full data set for Pennsylvania, click here

Highest debt ratios:

Immaculate University

Average student debt per borrower: $ 55,126

Percentage of graduates with loans: 85%

National ranking: $ 473 44,243

Duquesne University

Average student debt per borrower: $ 44,243

Percentage of graduates with loans: 58%

National rank: 464

Penn State Altoona

Average student debt per borrower: $ 43,294

Percentage of graduates with loans: 72%

National rank: 461

Edinburgh University of Pennsylvania

Average student debt per borrower: $ 42,694

Percentage of graduates with loans: 84%

National rank: 460

Mansfield University of Pennsylvania

Average student debt per borrower: $ 42,457

Percentage of graduates with loans: 87%

National rank: 459

Ursinus College

Average student debt per borrower: $ 42,113

Percentage of graduates with loans: 71%

National rank: 456

University of California, Pennsylvania

Average student debt per borrower: $ 42,029

Percentage of graduates with loans: 87%

National rank: 455

Penn State Erie, Behrend College

Average student debt per borrower: $ 41,841

Percentage of graduates with loans: 71%

National rank: 453

Penn State Schuylkill

Average student debt per borrower: $ 41,749

Percentage of graduates with loans: 87%

National rank: 451

Scranton University

Average student debt per borrower: $ 41,570

Percentage of graduates with loans: 75%

National rank: 450

Penn State Berks

Average student debt per borrower: $ 41,278

Percentage of graduates with loans: 79%

National rank: 448

Indiana University of Pennsylvania

Average student debt per borrower: $ 41,222

Percentage of graduates with loans: 84%

National rank: 447

Lowest government debt:

Bryn Athyn College of the New Church

Average student debt per borrower: $ 2,825

Percentage of graduates with loans: 33%

National rank: 1

East Stroudsburg University of Pennsylvania

Average student debt per borrower: $ 12,070

Percentage of graduates with loans: 36%

National rank: 17

University of Pennsylvania

Average student debt per borrower: $ 23,009

Percentage of graduates with loans: 22%

National rank: 78

Lock Haven University of Pennsylvania

Average student debt per borrower: $ 23,490

Percentage of graduates with loans: 79%

National rank: 86

Millersville University of Pennsylvania

Average student debt per borrower: $ 32,815

Percentage of graduates with loans: 73%

National rank: 323

College of Geneva

Average student debt per borrower: $ 32,823

Percentage of graduates with loans: 74%

National rank: 324

Penn State Abington

Average student debt per borrower: $ 32,957

Percentage of graduates with loans: 72%

National rank: 326

Muhlenberg College

Average student debt per borrower: $ 32,963

Percentage of graduates with loans: 60%

National rank: 328

Brandywine Penn State

Average student debt per borrower: $ 33,019

Percentage of graduates with loans: 78%

National rank: 329

University of Pittsburgh at Greensburg

Average student debt per borrower: $ 33,844

Percentage of graduates with loans: 75%

National rank: 348

  • To read all the data, click here

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