Does anyone know Emory students’ average loan debt at graduation? I tried the college board and Emory sites in vain. Thanks in advance.
41% of undergraduates borrow an average of $26,983, so an average debt of $11,063 per undergraduate.
Seem low. Sure that’s not annual?
This website suggests that some private loans are not included in the calculation.
http://www.collegefactual.com/colleges/emory-university/paying-for-college/student-loan-debt/#
@jroback : No, seems correct. I would imagine more like 20-30k or so per undergraduate even if you included private loans. Remember that it is Emory and many students have families that can actually pay the tuition or most of it at least. I would argue that this may indeed be a soft majority or near majority of students’ families
To clarify, the numbers I gave are Emory’s figures for the class of 2015 non-transfer students. The amount is cumulative for their whole Emory undergraduate education, and it includes all types of loans.
Emory has a program called Emory Advantage that limits debt for students from low-income families:
http://www.studentaid.emory.edu/types/grant-schol/emory-advantage.html
I wonder if they include full-rides and full-pays when they calculate an average loan debt. If they do, the actual loan debts for loan borrowers will be ridiculously high. Is that why my son borrowed 38k, and is that close to a “real” average loan debt at Emory?
I a, pretty sure they are including full pays which would drive the average DOWN because many full pay folks are not having to borrow. There are also a surprising amount of full ride folks at Emory. Your son does not fall into that category though. The people (like 22%) with Pell Grants likely do (some are on EA and some have merit aid). For those that do have to borrow some, those numbers (26k) sound believable to me. There is a solid chunk who do not have to at the bottom and top (lots of these folks at Emory). Keep in mind that Emory is more socioeconomically diverse than most schools in that there are more people at the bottom than many closely ranked peers. Those people in addition to the full pays (at minimum like 16-17% because basically all international students are full pay and there are also many domestic students who are also full pay) will lower the average.
No, @doubleeternity, the $27k figure does not include full rides or full pays if they did not take out loans. 41% of the class of 2015 took out loans, and the average amount borrowed by those borrowers was $27k. If you spread the total amount borrowed across the whole class, including students who did not borrow anything, the average amount borrowed was $11k.