The Institute for College Access and Success
Ideas for Easing Low-Income Student Debt
TICAS’ Ideas for Easing Low-Income Student Debt
[from National College Access Network]
Student loan debt continues to burden students – particularly low-income ones – across the country, according to a report recently released by NCAN member The Institute for College Access and Success (TICAS). But there are ways for both colleges and the federal government to address it.
Average student loan debt accumulated in each state for the class of 2016 ranged from $20,000 in Utah to $36,350 in New Hampshire. The next-highest average loan debts were in Pennsylvania, at $35,759, and Connecticut, at $35,494.
TICAS found that the students most affected by student loan debt were those from low-income families. For families earning $30,000 or less annually, it would take 77 percent of their income to cover the average net cost of a public four-year college. In nine out of the 10 highest debt states, students without any assistance from their family members would have to work at least 30 hours per week to cover this net cost.
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