Study ranks Indiana no. 11 in lists of states with highest student debt

EducationColleges and UniversitiesIndiana University-Purdue University IndianapolisButler University

Recent college graduates owe an average of $27,500 in the state of Indiana, according to the results of a new study on college student debt.

The annual report, issued by The Institute For College Access and Success, ranks Indiana as the eleventh highest in the nation in terms of average student debt.

"That's a big burden for someone coming out of college," said University of Indianapolis student Cory Johnson.

"I think it's scary to see that," said Lindsey Baker, a student at IUPUI, where officials said they try to be as transparent as possible when it comes to letting students know about the costs of college.

"We want students to live as frugally as possible, borrow as little as possible, and progress thru school as quickly as possible, because college does cost money," said Marvin Smith. IUPUI's director of Student Financial Services.

Still, many students said it's worth it, despite the need to borrow money.

"I think a lot of students turn a blind eye," said IUPUI student Will Webb. "Realistically, you don't want to think about it while you're here. (But) it's worth it. Higher [education] is worth money in the long run. Eventually you get a good job, and you'll be able to pay that back."

The Project on Student Debt also breaks down the debt of 2011 graduates school-by-school. In the state of Indiana, Rose-Hulman Institute of Technology tops the list with an average debt of more than $42,000. Butler University ranked second, with an average debt of nearly $37,000.

"Given the tuition costs here, it's understandable," said Butler graduate student Tim Kiefer. "It's the culture we live in, you have to go to college, college is expensive, and you have to borrow money."

Among the notable Indiana schools on the list: 

Rose-Hulman Institute of Technology $42,689 (No. 1 in state)

70 percent of 2011 graduates w/ debt

Butler University $36,925 (No. 2 in state)

66 percent of graduates w/ debt

University of Indianapolis $31,004 (No. 7 in state)

77 percent of graduates w/ debt

Notre Dame $30,170

55 percent of graduates w/ debt

IUPUI $29,673

72 percent of graduates w/ debt

Indiana University-Bloomington $28,434

53 percent of graduates w/ debt

Purdue University-Main Campus $27,286

54 percent of graduates w/ debt

Ball State University $25,667

70 percent of graduates w/ debt

Indiana State University $ 18,445

57 percent of graduates w/ debt


For a complete breakdown, click here.

Click here for the complete school-by-school breakdown from Indiana. 


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