10 MBA Programs That Stick Grads With the Most Debt
|
Posted By: Hija Chang on March 09, 2016 The average debt load among 2014 MBA grads who borrowed was $56,157, according to U.S. News data. By Susannah Snider The U.S. News Short List, separate from our overall rankings, is a regular series that magnifies individual data points in hopes of providing students and parents a way to find which undergraduate or graduate programs excel or have room to grow in specific areas. Be sure to explore The Short List: College and The Short List: Grad School and The Short List: Online Programs to find data that matter to you in your college or grad school search. When it comes to student loan debt, graduate students get slammed. In fact, about 40 percent of the approximately $1 trillion in outstanding student loan debt comes from graduate and professional degrees, according to a 2014 report from the New America Foundation. Unfortunately for prospective MBA recipients, those programs don't buck the trend. Among the class of 2014, the average debt load for those who borrowed was $56,157, according to data reported to U.S. News by 84 ranked schools. That amounts to about $635 in monthly student loan payments over the course of a standard 10-year repayment plan, according to a student loan repayment estimator. That figure assumes 6.41 percent interest, which was the 2013-2014 rate for federal Graduate PLUS loans. And that doesn't include any debt borrowed for an undergraduate degree. [Understand how student loan repayment changes after graduate school.] If that sounds tough, imagine graduating from New York University, where the average loan bill for borrowers in the class of 2014 was $116,533. Repaying that debt – the most of any b-school reporting data to U.S. News – would require more than $1,300 per month on a 10-year plan at 6.41 percent. With an average annual base salary of $112,096, some NYU graduates may be able to handle those monthly bills. For those making less, enrolling in an income-driven repayment plan can help make payments more palatable. On average, 44 percent of 2014 graduates borrowed to earn their MBAs, according to the 77 ranked schools reporting that figure to U.S. News. Of the eight schools among the 10 most debt-ridden reporting that number, 55 percent of 2014 graduates borrowed to earn their degrees. [Discover the eight student loan repayment myths experts want to see disappear.] The following business schools had the highest debt among 2014 full-time graduates. Schools designated by U.S. News as Unranked were excluded from this list. U.S. News did not calculate numerical ranks for Unranked programs because they did not meet certain criteria that U.S. News requires. In the table below, U.S. News did not include schools that accepted fewer than 100 applicants. Source: http://www.usnews.com/education/best-gradu... Photo: At New York University, MBA graduates from the class of 2014 who borrowed left school with an average of $116,533 in debt. If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
 |
Hija Chang
Management, See Moss Interactive Bellarmine University class of 2021 Member Since January 2011 |
Comments
More From This Author
Latest Graduate School Info
 |
Graduate Student Fellowship Opportunity!We, at www.stemuscenter.org, just completed our first two informational sessions on Research Fellowship opportunity for STEM and Social Science doctoral students.
The mission of our center is to te ...more
Manisha Maurya • 2,117 Views • October 23rd, 2024 |
 |
4 Habits for Success in Online SchoolOnline education has become an increasingly popular option for students over the years, especially due to the current global pandemic. However, succeeding in online school takes more than just a good ...more
Anica Oaks • 2,421 Views • February 1st, 2024 |
Popular Graduate School Info
 |
People Judge Your Intelligence Based on the Tone of Your Voice and How Fast You Speak
Do you want people to think you are intelligent? Has someone ever told you “You’re much smarter than you look.”?
No doubt it can sting to be perceived as less intelligent, particularly when you ...more
Hija Chang • 32,621 Views • June 12th, 2017 |
 |
How to Improve Your Reading Comprehension If youd like to improve your reading comprehension, try the SQ3R method. This is an acronym that means: Survey, Question, Read, Recite and Review.
Heres how it works:
Survey Your Text
Prior t ...more
Hija Chang • 25,279 Views • June 12th, 2017 |
 |
Magna, Summa, and the Honor RollWhat does it mean to graduate with honors? Academic honors involve these Latin terms...
What is Cum Laude: Graduating With Honor means graduating cum laude. What does cum laude mean? Translators de ...more
Hija Chang • 25,034 Views • March 16th, 2016 |
 |
Never procrastinate and always free time…..One blog I read regularly is by Leo Babauta, called zen habits. Essentially, he writes all about simplifying your life. A while ago, Scott Young was a guest blogger for Babuata’s website and wrote a p ...more
Hija Chang • 14,216 Views • April 19th, 2018 |
 |
MVSU to host Graduate Expo March 1Why should you consider an advanced degree? How will you finance your graduate education? What program of study is the best fit for you?
For the answer to these questions and many more, attend Mis ...more
Hija Chang • 13,315 Views • February 27th, 2018 |
