| ADMISSIONS | Paying for College | Financial Aid | Financial Literacy
According to recent estimates, about 50% of all college students leave college with a diploma and debt of about $17,500, with close to $13,000 in student loans and the remainder on credit cards.Debt can be expensive. Interest payments on debt work against you. Payments on your debt will affect your future income.According to the Institute for College Access & Success’ College InSight report, 66% of college graduates living in Massachusetts in 2012 had student loan debt. While the average amount of debt was $28,460, WCVB-TV Channel 5 Boston ranked WSU as the 7th least expensive college for tuition and fees in New England, based on a 2014 report published by the U.S. Department of Education. (WCVB used the information to compile a list of the 40 most cost-effective higher education institutions.)Keep in mind that the value of your Worcester State University education will become a lifelong asset to you. It is not only an asset of monetary value, but also one of how you approach a lifetime of experience and challenges. The development of prudent financial decisions such as how much you borrow or spend while in college and the judicial use of credit cards and checking accounts and other financial management tools will affect how you approach finances and debt management in the years to come.