The study examines debt trends affecting undergraduate students attending a Kentucky Community and Technical College System college or public university.
CPE President Aaron Thompson said when students are able to get through college or certification without debt, they have a better chance at improving their lives when they enter the workforce.
“They are able to use the income that they're getting to invest in a house, to invest in their family, to invest in building some wealth for generations after them become a much more sustainable generation that can go to college,” he said.
Decreasing student loan debt, Thompson said, is being seen across the board, even for underrepresented and low-income students at both two-year and four-year institutions.
Christopher Ledford is the CPE associate director of data and analytics and the report’s lead author. He said this news comes during a promising trend in Kentucky education.
“What that decline in the number of students who graduated with debt translated to is that, compared to five years ago, almost 8,000 more students graduated with zero debt. That's all while Kentucky continues to set high marks for the number of total graduates,” he said.
Ledford said even many of those who still have debt are seeing a lighter load. Among completers who graduated with debt, average loan balances saw a decline of of 9.6%. He says this general decline goes across degree levels and student demographics.
To read the report click here.
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