LendEDU' s fourth annual Student Loan Debt by School by State Report recently ranked Olivet College as third in the state for lowest average student debt. Olivet College joins the likes of the University of Michigan and Wayne State University in the top five. Additionally, the College ranked No. 116 amongst private schools in the U.S. and No. 272 in the country.
Olivet's average debt per borrower for the Class of 2018 was $26,872. Olivet College students were awarded over $16 million in scholarships and grants for the 2019-20 academic year.
Michigan's overall average debt per student borrower is $31,679. On average, students across the U.S. graduated with $28,565 in student loan debt, up from the 2017 average of $28,288.
"It is an honor to be recognized for our continuous effort to make college accessible to all students," Maria Davis, Ph.D., provost of the College, said. "At Olivet College, we are proud to offer students a quality education at an affordable price. This recognition only reinforces our dedication to student success, which often means offering internal financial aid, thereby reducing student debt. In alignment with our core values, we believe that every student has the right to a college education. With the College's assistance, students can graduate with lower debt, leading them to succeed in the professional world."
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 2019-20, including all federal, state, institutional and private grants and loans, was $26,765. 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.
To learn more about Olivet College, contact the Office of Admissions at 800-456-7189 or admissions@olivetcollege.edu.
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