Expensive tuition rates, laboratory fees, textbooks, rooms and boards are among the major expenses a college student has to accrue. However, not everyone has secured ample amount to finance these outlays right away. Good thing college loans are offered, helping students pay for these college fees in some ways. But as the number of students and parents seeking for financial aids continue to rise, the amount of debts ensued by college and university graduates promptly escalates as well.
Listed below are ten colleges and universities where graduates have the most debt accumulated. The data is based on a pertinent survey conducted by the U.S News for 2011.
Clark Atlanta University a private, historically black institution founded in 1988. The university is among the members of United Negro College Fund (UNCF). The percentage rate of students who loaned from this institution is 94 percent and the average debt load is $47,066.
Lawrence Technological University (MI) is a private institution founded in 1932. It is also known as Lawrence Tech or simply LTU, located in Southfield, Michigan. The school has recorded 74 percent of students with debt records. The average debt load in this institution is at $46,677.
Johnson C. Smith University (NC) is a private, co-ed, four-year research institution of higher education founded in 1867. It is located in Charlotte, North Carolina, United States. A hundred percent of students have loaned from this institution and the average debt load is at $46,673.
Sacred Heart University (CT) is a private Roman Catholic institution founded in 1963. It is located in Fairfield, Connecticut, United States. The percentage rate of students with financial debts from this institution is 77 percent and the average debt load is $45,402.
Wheelock College (MA) is a private institution dedicated to improve the lives of both children and families. It was founded in 1888 located in Boston, Massachusetts. The percentage rate of students who borrowed cash from this institution is 97.2 percent and the average debt load is $45,391.
Bennett College (NC) is a four-year liberal arts institution for women founded in 1873. The school is located in Greensboro, North Carolina. It is devoted to provide education to newly freed slaves. The percentage rate of students who had cash loans from this institution is 94 percent and the average debt load is $45,275.
Delaware State University is an American historically black, public institution founded in 1891. It is located in Dover, Delaware. The percentage rate of students who loaned money from this institution is 90 percent and the average debt load is $45,098.
Franklin Pierce University (NH) is a small, private, non-profit, regionally-accredited institution founded in 1962. It is located in Rindge, New Hampshire, United States. The percentage rate of students who borrowed cash from this institution is 81 percent and the average debt load is $44,702.
Widener University (PA) is a private, coeducational institution founded in 1821. It is located in Chester, Pennsylvania, United States. The percentage rate of students with debts record from this institution is 86 percent and the average debt load is $44,430.
Oral Roberts University (OK) is an interdenominational, Charismatic Christian, comprehensive institution founded in 1963. It is located in Tulsa, Oklahoma, United States. The percentage rate of students with debts from this institution is 70 percent and the average debt load is $43,712.
Financial experts are already alarmed with the high number of student debt rates as manifested by the survey results. According to them, it is becoming an increasingly large concern at colleges and universities across the country today. Nevertheless, student loans also serves as an instant relief, especially for deprived students to pursue their studies, acquire a degree, and finally, land on a job that would secure a brighter future for them and for their families as well.