Average Michigan Graduate Owes Thousands in Student Loans
According to the latest data, the average Michigan graduate owes $30,852 in student loans.
That includes both federal loans and private loans. Federal loans are capped at $31,000 total for undergraduate dependent students.
The average student debt at graduation in 2016 ranged from about $20,000 in Utah to about $36,000 in New Hampshire.
According to the Detroit Free Press, college is one of the biggest investments Americans make, yet many are making choices without basic information.