CLEVELAND, Ohio – Some graduates of Ohio colleges and universities are leaving with over $40,000 in debt, according to an analysis by student loan repayment company LendEDU.
Ohio schools, on average, have students graduating with the 19th highest student loan debt in the country, averaging $30,047 in 2019, a 3.8% increase from 2018.
Nearly two-thirds of students, 63%, graduated with some student loans during that time. The average student loan debt in the country is $29,07. In this analysis, debt is a combination of both federal and private student loans.
On a state level, the average student loan debt per borrower ranged from $16,633 in Utah to $41,579 in Connecticut.
LendEDU’s yearly analysis of student loan debt figures uses data from an annual Peterson’s financial aid dataset that LendEDU licenses, compiling self-reported student loan debt numbers and other financial aid figures from four-year public and private higher education institutions that complete the voluntary surveys.
Because data is self-reported and voluntary, some schools like Ohio University, Ohio State, Kent State and Cleveland State, are not on the list.
Mount Union, a private university in Alliance, has the highest average student loan debt per borrower, at $40,112. Eighty-three percent of students left with some debt.
Meanwhile, Allegheny Wesleyan College in Salem had the least student debt per borrower at $9,500. Only 20% of students graduated with a loan, the least of the 16 Ohio schools on the list.
Ohio Christian University has the highest proportion of 2019 Ohio school graduates, with student loan debt at 90%, with an average debt of $30,000.
Below are the 16 public and private higher education schools that reported student loan data and the percentage of students who graduated with a loan.
No. 16 – Allegheny Wesleyan College
Average student loan debt per borrower: $9,500
Proportion of 2019 graduates with student loan debt: 20%
No.15 – Xavier University
Average student loan debt per borrower: $10,348
Proportion of 2019 graduates with student loan debt: 53%
No. 14 – The University of Akron
Average student loan debt per borrower: $28,643
Proportion of 2019 graduates with student loan debt: 65%
No. 13 – Youngstown State University
Average student loan debt per borrower: $29,360
Proportion of 2019 graduates with student loan debt: 65%
No. 12 – Ohio Christian University
Average student loan debt per borrower: $30,000
Proportion of 2019 graduates with student loan debt: 90%
No. 11 – University of Cincinnati
Average student loan debt per borrower: $30,350
Proportion of 2019 graduates with student loan debt: 58%
No. 10 – Shawnee State University
Average student loan debt per borrower: $30,554
Proportion of 2019 graduates with student loan debt: 79%
No. 9 – Columbus College of Art & Design
Average student loan debt per borrower: $32,258
Proportion of 2019 graduates with student loan debt: 81%
No. 8 – Malone University
Average student loan debt per borrower: $32,495
Proportion of 2019 graduates with student loan debt: 79%
No. 7 – Cleveland Institute of Art
Average student loan debt per borrower: $32,533
Proportion of 2019 graduates with student loan debt: 76%
No. 6 – John Carroll University
Average student loan debt per borrower: $32,956
Proportion of 2019 graduates with student loan debt: 68%
No. 5 – Muskingum University
Average student loan debt per borrower: $33,026
Proportion of 2019 graduates with student loan debt: 76%
No. 4 – Capital University
Average student loan debt per borrower: $33,461
Proportion of 2019 graduates with student loan debt: 80%
No. 3 – Case Western Reserve University
Average student loan debt per borrower: $33,946
Proportion of 2019 graduates with student loan debt: 44%
No. 2 – Ohio Wesleyan University
Average student loan debt per borrower: $36,680
Proportion of 2019 graduates with student loan debt: 71%
No. 1 – University of Mount Union
Average student loan debt per borrower: $40,112
Proportion of 2019 graduates with student loan debt: 83%
Zachary Smith is the data reporter for cleveland.com. You can reach him at zsmith@cleveland.com. See previous data stories at this link.
