EAST LANSING, Mich. — According to a new study by Tuition Hero analyzing 2022-2023 data, Michigan State University ranks among the top five colleges nationwide for student debt after graduation.
- Michigan State University ranks among the top 5 colleges nationwide for student debt, according to a Tuition Hero study.
- MSU's financial aid office reports recent data shows graduates carry just over $20,200 in federal loan debt.
- Students are using strategies like taking 18 credits per semester to graduate early and continuously applying for scholarships to reduce their debt burden.
The study found MSU graduates carry a median debt of $23,250, placing the university near the top of schools with the highest student loan burdens.
WATCH BELOW: Tuition Hero analysis of 2022-2023 data ranks MSU high for graduate debt
However, Anthony Krolak, associate director of the Office of Financial Aid at MSU, said that has changed.
"I do know that our graduates graduate with just a little over $20,200 in federal loan debt, recently," Krolak said.
Students like sophomore Nevena Gales are taking proactive steps to minimize their debt burden. Gales said she planned to take out loans but is working to graduate early by taking heavier course loads.
"I've been taking 18 credits each semester, summer, I'm trying to speed it up enough," Gales said.
"I kind of figured I would do loans, that was my main plan," she said.
Krolak recommends several strategies for students to manage and reduce debt, starting with budgeting.
"Set a budget. I know it's easier said than done but set a budget and try to stick to it," Krolak said.
He also encourages students to continue applying for scholarships throughout their college careers as another way to reduce debt.
"Continue to do that all throughout your career," Krolak said.
For Gales, the plan is straightforward once she graduates.
"I think just getting a job and paying that debt and loans off immediately," Gales said.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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