Our student loans are ‘astronomically high’, says new data
At BU they’re nearly 100 percent higher than the national average
The Washington Center for Equitable Growth created an interactive map which shows the places where student debt is the worst.
Metropolitan areas tend to have the highest student loans, which is unfortunately too true for our area of Boston.
Both on our side of the Charles and in Cambridge, student loans are described as “astronomical” and are some of the highest in the nation.
On the interactive map BU is a nice shade of purple…and that’s definitely not the best situation to be in.
Another thing seen on this map is the loan delinquency, which in our area is low.
This follows suit with the national trend. In areas of high student loans, students are more likely to pay off that debt on time, whereas places with low debt have a much higher delinquency.
Student loans in Boston
Some of the factors taken into account during the creation of this map are the average number of student loans, open student loans reported as well as opened in the last six months, different types of current student loans, the average balance of those loans, and the average payments for the loans.
The good news is BU grads have a higher starting salary, meaning BU graduates are more likely to keep up with paying.