Loan debt continues to rise for graduating students

Loan debt continues to rise for graduating students

CINCINNATI, OH (FOX19) - Graduating college students in Ohio are finding themselves deeper in debt according to The project on Student Debt.

Students who took out loans to earn a bachelor's degree last year graduated with an average of $28,683 of debt.

That's 8 percent higher than the national average and represents a 3.5 percent increase over 2010.

FOX19 went to the University of Cincinnati campus to find out if student loan debt is a concern.

Corey Kavanaugh is a fifth-year UC student and says she worries about the size of her debt.  "It's a significant amount especially like with finding a job. That's like a significant amount of the salary for the first few years of the career," said Kavanaugh.

Billy Luther transferred to UC from Marietta College and says he's already in debt.  "It's kind of hard knowing that I'm going to have to pay $30,000 coming straight out of the college," said Luther.

Criminal Justice Major Delisa Young says she worries about her student loans. "It will be like a big issue with trying to pay loans and pay bills and there's not a guarantee of a career to come like right after school," said Young.

FOX19 also asked students if they thought they were getting their money's worth.  Evan Radloff is a marketing major who says, "I feel like we're all getting a good education. Is it fair that we're all coming out with more debt than we deserve....I don't think so."

Students considering taking out school loans should ask themselves if a higher education is worth all that debt, but as one student says 'you get out of it what you put into it.'

Ohio Board of Regents Chancellor Jim Petro says he will continue to push Ohio's public colleges to keep their costs down and find ways to move students though school more quickly to reduce their debt.

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