Wisconsin student debt the third highest in nation


Photo by Maryam Tunio

Photo by Maryam Tunio/[email protected]

Julia Pagliarulo, Assistant News Editor

The percent of Wisconsin students who graduate with debt increased to 70 percent in 2014, the third highest in the nation, according to a report by The Institute for College Access & Success.

Wisconsin undergraduates graduated with an average debt of $28,810 in 2014, a 74 percent increase from the 2004 average of $16,560. The average national increase in debt is 56 percent over this same 10-year span.

In comparison, Marquette’s average student debt is an annual average of $7,220 for undergraduate students, with an average of $28,880 in debt by graduation. Fifty-three percent of Marquette undergraduates take out loans.

“It’s time for Gov. Walker and Republican state leaders to stop offering sound bites and gimmicks and deliver the real reform that Wisconsin borrowers need,” said Analiese Eicher, student loan debt program director for One Wisconsin Now, in a statement.

Marquette’s webpage on debt management recommends students limit their borrowing to essential education expenses and suggests that students project their future earning potential and repayment obligation.