Hmmmm. When I look at the College Scorecard, the average cost is more than $16,000: College Scorecard | College Scorecard. Below the average cost is average cost by family income. If your family income is between $0 and $30,000 then the amounts on the list you posted are probably based on your income level. Meaning that for the neediest students (you are a needy student), UMass-Amherst would offer you excellent aid as an in state student.
P.S. Students can only borrow a set amount of federal loans per year. A dependent freshman is limited to $5,500. Total undergraduate loans for dependent students are limited to $31,000. Families that have unmet need may very well be borrowing to bridge that gap (like the $32,000 gap at WPI), but that isn’t federal student debt, so it won’t be reflected on the chart.
Ah… this is only federal debt we are talking about(not total debt). that table header is so misleading. OK. so most students nowadays (along with parents) are looking at tacking more “other debts” to make college affordable.
thank you for the info.
I’m not sure this is true. Where I am, most people are looking at colleges that are affordable without debt in addition to the federally funded Direct Loan.
Some families may have savings to help pay (like a 529), or they pay some or all from current income. Or other family members help. But unfortunately,many people choose to borrow a lot for college. Some debt may be manageable, but choosing the option that involves the least debt is wise.
It would seem that College Scorecard should be definitive source of data, but it’s iffy because for student debt they are using data from 2014 through 2020…that’s a big range. Project on Student Debt Interactive Map - The Institute for College Access & Success more recent for debt at graduation (just looking at Class of 2020).