LendEDU’s annual Student Loan Debt by School by State Report recently ranked Olivet College as fourth in the state for lowest average student debt. Olivet College joins the University of Michigan and Wayne State University in the top five, and the College was the only private school ranked in the top 10. Additionally, the College ranked No. 57 amongst private schools in the U.S. and No. 177 in the country.
This is the fifth annual Student Loan Debt by School by State Report by LendEDU, and Olivet College has consistently ranked in the top five for lowest average student debt among colleges in Michigan.
Olivet’s average debt per borrower for the Class of 2019 was $30,157. Incoming Olivet College students were awarded over $9 million in scholarships and grants for the 2020-21 academic year.
Michigan’s overall average debt per student borrower is $28,895. On average, students across the U.S. graduated with $ $29,076 in student loan debt in 2019, up from the 2018 average of $28,565.
At Olivet College, 100% of residential students receive some form of internal financial aid, which is key to graduating with lower debt. The average financial aid package for incoming students in 2020-21, including all federal, state, institutional and private grants and loans, was $33,564. A wide variety of scholarships and grants, including talent-based and participatory scholarships, make college affordable for students who may otherwise not be able to attend.
The Olivet College ADVANTAGE was created to ensure students receive a quality education with unrivaled value, and it includes a four-year graduation guarantee. Graduating in four years leaves students with less debt and more earning potential over their lifetime of employment.
In addition to the four-year graduation guarantee, the Olivet College ADVANTAGE also guarantees its students service learning projects that include meaningful, hands-on experiences, global travel opportunities and industry-leading internship and research opportunities.
LendEDU is a platform that helps consumers navigate student loans, personal loans, credit cards and other banking products. View the full ranking at www.lendedu.com/student-loan-debt-by-school-by-state-2020/.
To learn more about Olivet College, contact the Office of Admissions at 800-456-7189 or admissions@olivetcollege.edu.
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