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Average SLU Student Debt: Lowest in the State

by Nancy Solomon on 09/06/2018

Saint Louis University’s 2017 graduating class carries the lowest level of student loan debt compared to similar grads from other private and public universities in Missouri, according to a study by LendEdu, a financial services organization that specializes in student lending.

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“Saint Louis University is doing a great job at helping students afford their education and attend college with as little debt as possible,” said Mike Brown, a research analyst at LendEdu.

According to the report, which looked at students beginning at SLU as freshmen and graduating, the average student loan debt for SLU 2017 grads is $21,292, compared with a national average of $28,288 and state average of $26,834 of debt.

SLU has one of the lowest average student debt figures for all private institutions, ranking 59 among similar schools in the nation. SLU also ranked 119 among 1,080 four-year public and private nonprofit colleges and universities.

 The University demonstrates its ongoing commitment to keep a SLU education affordable in many ways.

 In 2017 SLU set a new record in total institution-funded student aid, scholarships and grants, a priority that continues into 2018. Of SLU’s freshmen, 98 percent receive scholarships or financial assistance and more than 40 percent of students graduate without student loan debt.

 In addition, since 2013, SLU’s Go Further scholarship program, which matches every scholarship gift dollar-for-dollar, has raised more than $39.5 million in matching dollars. The majority of Go Further scholarships are designated for low-income, first-generation students.

 The LendEdu report was based on the newest Peterson’s financial aid data, which was reported through a voluntary survey completed by colleges and universities listed in the report.