Student Loans

College has come and gone for Pennsylvania spring graduates — and now it’s time to pay up. 

The six-month “grace period” is almost over, and the bills are going to start arriving.

Keith New, Pennsylvania Higher Education Assistance Agency communications director, said the average Pennsylvania borrower graduates with $25,000 debt, and the six months are meant to help them get financially comfortable before beginning to repay it.

Future Fair: Tips to Finding the Right Career Path

Oct 2, 2014

The once traditional path of graduating from high school, going to college or work and getting on with your life is no longer the standard way of doing things.

Students today face a number of challenges when it comes to determining a life-path. How to make better informed decisions in a changing educational and economic marketplace is the goal behind the Future Fair.

We’ll learn about this upcoming event from State Representative Dan Miller and Gene Natali Jr., author of the financial planning book "The Missing Semester." Miller stresses that Future Fair is about pairing young people up with good choices for their future -- especially choices that will allow them to remain in SWPA.

With annual tuition ranging from $12,000 a year for a four-year public college to as much as $45,000 for a private college, more Pennsylvania students are leaving with more than a diploma — rising debt.

The cost of a four-year public college education in Pennsylvania costs a little more than $12,000, but some students are facing more than $36,000 in debt at graduation.

The state now ranks fourth in the percentage of college graduates with loan debt and third in the average amount of debt per student, according to a survey by the Institute for College Access and Success.

State Senator Proposes Zero Percent Student Loans

Aug 13, 2013

Much of the attention this summer on student loans focused on whether Congress would prevent a doubling of the 3.4 percent federal loan rate. 

That rate officially did hit 6.8 percent when lawmakers missed the July 1 deadline. But after much debate President Obama last Friday signed compromise legislation.

This fall, students will be borrowing at a rate of 3.9 percent, but the legislation ties the rates to financial markets. So, if the economy improves, the rate for the government to borrow money will go up and that will be passed onto students.

The High Cost of Higher Education

Mar 22, 2013
Katz School of Business / University of Pittsburgh

  Student loans are now second to mortgages when it comes to personal debt.  The average PA college student amasses $27,500 worth of debt. As college acceptance letters come in the mail, what do students need to consider when planning for their financial future? University of Pittsburgh Business Professor Jay Sukits joins us to talk about student financial planning and debt.