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Report: Md. students graduated with more debt in 2017 than 2016

McKeldin Mall on the University of Maryland College Park Campus. (The Daily Record / Maximilian Franz)

McKeldin Mall on the University of Maryland College Park Campus. (File photo)

Students that graduate with debt in Maryland continue to see the amount of debt they carry after graduation rise, a report released Wednesday found.

Maryland college students with loans in the class of 2017 graduated with an average of $28,844, an increase of nearly 6 percent from the class of 2016. The report from LendEDU found 26 percent of Maryland college students graduated with debt last year.

Students graduating from Stevenson University carried the most debt. Close to 76 percent of Stevenson students graduated with debt, averaging $37,000.

Conversely, students graduating from St. Mary’s College of Maryland carried the least debt upon graduation. About 53 percent of the school’s students graduate with debt, averaging $21,911.

Maryland’s flagship public university, the University of Maryland, College Park, ranked fifth in the state for student debt. Close to 42 percent of the students graduated with debt, which averaged $28,122.

That average debt places UMD in the middle of the pack compared to its Big Ten Conference peers, all mostly large flagship public research universities. Penn State University graduates with debt carry the highest debt load, averaging $37,307 in the class of 2018. Northwestern University graduates carried the least debt at $19,718.

Of Maryland’s neighboring states, only West Virginia students with debt graduate with less debt. Pennsylvania, Delaware and Virginia students, along with students from the District of Columbia, graduate with more debt.

Pennsylvania graduates with debt graduate with the most debt in the country. That state’s 67 percent of graduates with debt graduated with $36,193 in average debt.

Students in Utah that graduated with debt graduated with an average of $18,425 of debt. Just 39 percent of students graduated with debt.

Reporting the debt was voluntary. Some Maryland schools did not report their debt numbers, including Coppin State University, Johns Hopkins University, Maryland Institute College of Art, Notre Dame of Maryland University, St. John’s College, University of Baltimore and the University of Maryland, Eastern Shore.

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One comment

  1. What level of students/graduates are you referring to? Are you referring to Associates, Bachelors, Masters, etc? I am a student at Notre Dame of Maryland University School of Pharmacy. I will accumulate at least $160,000 in debt when I graduate. That’s the minimum for students in my program because I did not use the grad plus loan that most students take for living expenses. Students that took this loan could graduate with amount close to $260,000 in debt.