October 11, 2013 | Number of The Day
Average amount of student loan debt of New Jersey college graduates

What does the average New Jersey college graduate get besides a sheepskin when he or she finally graduates college? On average, $27,610 of debt, at least in 2011.

According to the Project on Student Debt, an independent research and policy organization that’s looked at the issue, that ranks 2011 graduates from New Jersey colleges 10th in the country in terms of debt. What’s more, 64 percent of graduates have some sort of debt when they leave.

Oddly enough, the college that had graduates with the lowest amount of debt is one of the most expensive — Princeton University, whose graduates averaged debt of only $5,330. The most debt carried by state university graduates were those from The College of New Jersey at $32,754, followed by Rowan University at $31,895. Centenary College, with an average of $40,588, and Rider University, with an average of $35,499, were the two private four-year colleges whose graduates carried the highest amount of debt.