Sioux Falls, South Dakota (KELO) — Student debt continues to rise nationwide, but here in KELOLAND, the state’s largest public university sees student debt fall.
On Your Money Matters tonight, why local college graduates are financially more equitable than their neighbors.
Student debt is a fear of many high school graduates.
“I was worried about how much it would cost and how it would affect me when I got a professional job,” said SDSU 2022 graduate Kylie Schultz.
But after graduating from SDSU last May, Kylie Schultz realized those fears weren’t as difficult as she thought.
“I actually paid off all my student loans. Only a year after graduating, I have no student loans left, which is great. A big part of that is due to the cost of attending SDSU.” I think,” said Schultz.
SDSU President Barry Dunn said:
Dunn said SDSU’s degree costs are significantly lower than public universities in surrounding states.
“Getting a degree at SDSU is 39% cheaper than at the University of Minnesota,” says Dunn.
Nearly a third of SDSU students will graduate debt-free in 2022, according to Dunn, and students who had some federal loans will continue to use federal loans while attending public college. Well below the national average of just over $28,000.
“In South Dakota, student loans for graduates have fallen for five or six years in a row,” says Dunn. “This spring, he said, the average debt for a student graduating from SDSU will be about $22,000, which is very affordable given the benefits they receive.”
“My tuition was not enough to justify the huge student loans. After scholarship opportunities and overall costs, I was able to pay most of my college tuition out of my own pocket.” Mr Schultz said.
A degree in business economics helped Mr. Schultz land a great first job at the FDIC in Sioux Falls and gave him a head start in life by not worrying about monthly student loan payments. I feel that I have cut
“Being able to pay for groceries and rent has given me more free time and more disposable income to do whatever I want,” says Schultz.
President Dunn said the growing popularity of double credits in high school has also helped reduce college costs for many students. Last year, his 10% of SDSU freshmen entered college with enough double credits to graduate a year earlier than her, significantly reducing the cost of a college degree.
