By Angel Lizardi |Staff Writer|
CSUSB graduates have the highest student loan debt average of any Cal State or UC in the State at $23,656.
Although CSUSB is the highest in the state, the state system ranks 46th in terms of students leaving with highest debt.
The debt ratio is the amount owed by every graduate of this university.
This is according to the website projectonstudentdebt.org, which is an initiative of the Institute for College Access & Success (TICAS), a nonprofit independent research and policy organization dedicated to making college more available and affordable to people of all backgrounds.
The data used in this study are reported by colleges in response to surveys based on the common data set (CDS).
The CDS is a shared survey instrument used by publishers of college guides.
According to the site, the state averages are based on the 1,057 colleges that reported both the percent of graduating students with loans and their average debt to Peterson’s, and reported granting bachelor’s degrees in IPEDS.
These colleges represent about 55 percent of all public and nonprofit four-year colleges and 79 percent of all bachelor’s degree recipients in these sectors in 2010-11.
Limitations in the study include colleges to report cumulative debt from both federal and private (nonfederal) loans.
Some public colleges may not be aware of all the private loans their students carry.
Around two-thirds (62 percent) are private nonprofit colleges, which is similar to the ratio found among all colleges.
With rise in tuition going up, student loans will continue to be an important part in funding students college tuition, and it also adds an additional level of stress.
“Right after graduation I have to think about an internship or a steady job because I’ll only have six months to begin to pay it back,” said student Lily Castro.
However, other students have said that they aren’t worried about it at the moment, but perhaps should be paying much more attention to their loans.
“My major is accounting and there is a pretty good job stability in that field,” said student Elizabeth Villela.
However, after informing her on the statistics, she had a slight change of heart.
“I feel that the reason why I’m not so worried is that I don’t pay attention to my students loans as much as I should, but I should start doing that right away,” said Villela.
With having to pay all that money back, some students have taken precautions to spend their money wisely.
“I try to budget accordingly and try to not spend so much at school being that on a given day you can spend up to $20,” said student Krystal Muongpruan.
Students have taken up one or more jobs in order to refrain from spending all of their student loans and coming up with ways to save money.
“I pay rent and must work two jobs in order to maintain my lifestyle as I want a slight cushion in my bank account and do things like cook at home to avoid spending everyday because that adds up,” said Castro.