North Dakota Ranks High in Student Loan Debt - KMOT.COM - Minot, ND - News, Weather, Sports

North Dakota Ranks High in Student Loan Debt

Posted: Updated:

Recently the nation's total student loan debt surpassed credit card debt by an average of $26,000 per person. And North Dakota is ranking among the top states with the highest student loan debts. A study by the website Nerd Wallet found that North Dakota ranks second  in the country for highest student loan debt and highest in percentage of graduates with debt.

Education is expensive, it's nothing new, most college students don't graduate without some sort of debt. But what is new is the amount debt is adding up to.

"It worries me," says BSC student Caitlin Pittman.

The consumer website Nerd Wallet found that North Dakota is the second worst state in the nation for student loan debt. The state's average debt per student is $27,000, surpassed only by New Hampshire's 32,000.

"I guess it's shocking," says BSC student Brandon Talley.

What's even more shocking is that North Dakota has the highest percentage of graduates with debt at 83 percent.

"One of the messages that we give to the parents and students is to borrow what you need, not what's available," says Bank of North Dakota director of student loans Wally Erhardt.

Air-Heart suggests that students only take loans as a last resort, and to make sure they are educated on all of their options.

"Have you done enough to prepare for college, have you saved for college, and exhausted all of your scholarships," says Erhardt.

Student debt varies by state depending on financial aid offered by the universities in the state and the availability of state grants and loans.

Erhardt suggests students attend a community college first if they haven't decided on a major yet.

 

 

  • Latest NewsMore>>

  • Illegal Children Sent to North Dakota

    Illegal Children Sent to North Dakota

    Wednesday, July 30 2014 10:51 AM EDT2014-07-30 14:51:43 GMT
    As of July 7, there are four children in North Dakota and the Department of Health and Human Services has been notified.
    As of July 7, there are four children in North Dakota and the Department of Health and Human Services has been notified.
  • Man Arrested for Meth

    Man Arrested for Meth

    Tuesday, July 29 2014 11:58 PM EDT2014-07-30 03:58:54 GMT
    A man from Texas was arrested Monday night for possession of methamphetamine in Minot.
    A man from Texas was arrested Monday night for possession of methamphetamine in Minot.
  • Children Getting School Immunizations

    Children Getting School Immunizations

    Tuesday, July 29 2014 11:52 PM EDT2014-07-30 03:52:42 GMT
    It's time for parents to get their kids into the doctor's office for their shots.
    It's time for parents to get their kids into the doctor's office for their shots.
  • TOOLBOX

Most Popular

Stories
Videos
loading...
  • Special Feature HomeSpecial FeaturesMore>>

  • Ask An Attorney

    Ask An Attorney

    CLICK HERE TO GO TO THE ASK AN ATTORNEY PAGE!
    CLICK HERE TO GO TO THE ASK AN ATTORNEY PAGE!
  • Mobile Apps

    Mobile Apps

    We have the best Mobile Apps.  Learn how you can download yours today.
  • Me-TV North Dakota

    Me-TV North Dakota

    NBC North Dakota News has launched a new channel -- Me-TV North Dakota!  If you love the classics, Me-TV North Dakota has them.
    NBC North Dakota News has launched a new channel -- Me-TV North Dakota!  If you love the classics, Me-TV North Dakota has them.  Me-TV North Dakota will also play a replay on the Evening and Night Report at 11:30pm Monday-Friday.  As well as, local news and weather updates throughout the day.
  • On the Farm

    On the Farm

    CLICK HERE TO GO TO THE ON THE FARM PAGE!
    CLICK HERE TO GO TO THE ON THE FARM PAGE!
Powered by WorldNow
    Powered by WorldNow
    All content © Copyright 2000 - 2014 Worldnow and KMOT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.