It wasn’t enough to name Georgetown University #7 on the list of top 10 colleges and universities with the priciest dorms. Nope, not by a long shot.
Apparently almost half of the students attending secondary education institutions in DC graduate with debt. Not only that, but they have the highest debt in the country.
Washington Business Journal announced today that the average debt upon graduation from a DC institution in 2008 was $29,793. When compared to the national average ($23,200), there appears to be quite a discrepancy in price.
American University topped the list with an average of $34,213, with George Washington University in second, and Georgetown in third. Visit Jeff Clabaugh’s article at the business journal for more on the numbers.
I started my undergrad at American…loved the place, played in the Jazz Band, honor student…but I couldn’t keep up with the debt. Unless AU steps up their aid, they will forever be marred as a Rich Kid School. I’m not a rich kid. I transferred to Ohio State.
While you bring up a valid point, that there is a huge disparity in the amount of debt AU students accrue in relation to the national average (which in itself is funny since GW has held the title of most expensive school in the country time and time again), there are several reasons for this. First, estate tax. Second, endowment– that none of the DC schools have a substantial enough endowment to help as many students as needed.
AU is also a smaller school and less money is brought in.
And I don’t think this says as much about all the above’s school financial aid offices as it does about the Department of Education and how poorly funded it is, that they cannot actually live up to only having you pay your “estimated family contribution.” So what about health care… Getting the education I need to get a job that might offer decent insurance coverage, dear Senators, is putting my student loan debt higher than any medical procedure I will ever need.
While I am aggravated that I will have almost -$80,000 to my name by the time I graduate, I do believe that my experience in the Nation’s Capital has been unique, something that state school education cannot offer except through study abroad.
I received a full tuition scholarship to AU. Awesome, right? But I still ended up $25,000 in the red after graduating, with about 30% of that in private loans. Not that I’m bitter.
For the record, I went to AU. Loved every minute. It was the best choice I ever made. I just find it fascinating that they’re the school that has let their students with the most debt. Blows my mind.