October 25, 2020

The Top Ten Universities for Student Debt

1) New York University: $659 million
2) University of Southern California: $631 million
3) Penn State University: $590 million
4) Ohio State University: $560 million
5) University of Minnesota: $495 million
6) Arizona State University: $479 million
7) University of Texas: $474 million
8) Michigan State University: $433 million
9) Indiana University- Purdue University: $421 million
10) Rutgers: $398 million

Were you looking for a better future? Did you want to do better yourself? Well, if you are attending one of the many private, for profit schools in the United States then good luck! Unless mommy and daddy front the bill from the beginning, you are going to graduate with the equivalent of a mortgage for a dope house except, you can’t live in your student loan dept, the interest rate will probably be higher than that of a mortgage and if you don’t pay you can’t claim bankruptcy and give it back. Essentially you pay, pray you get a job that pays enough to cover your loans and living expenses or you end up broke and in debt. Don’t worry, we have plenty of wars going on at the moment so you could always join one of those instead of college. Welcome to America.

2 thoughts on “The Top Ten Universities for Student Debt

  1. Hate to be “that guy,” but these numbers don’t mean fuck-all. 8 out of 10 schools on this list are enormous state schools, which are going to have high numbers for total debt load simply because of their large student bodies. That said it is pretty notable that NYU and USC (undergraduate populations around 15K) are beating out the likes of Penn State (undergraduate population nearly 40K).

    The numbers you should look at are the per-student debt numbers. These are particularly bad for the straight-up for-profit bullshit schools like University of Phoenix or ITT Tech. One reason these numbers are bad is because these schools are drawing from a disproportionately lower socioeconomic class, a class which is going to use a higher proportion of debt to cash in paying tuition than the privileged attendees at your NYUs and USCs.

    The really fucked-up reason why these numbers are bad though, is that these schools have in-house finance/lending offices which push loans on people who can’t afford to pay them. It’s a similar business model to the in-house units that do auto lending for car companies, only MUCH more aggressive/predatory, and instead of lending you money to buy a car, they’re lending you money at high rates for a degree which, in terms of an actual boost in earning power, may actually be worse than just burning your money. At least that doesn’t charge interest!

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