More than half of UW Madison seniors to graduate debt-free
MADISON, Wis. (WMTV) - As University of Wisconsin- Madison seniors are set to graduate Saturday, the university announced more than half of its students are graduating without debt for the fifth year in a row.
Around 57.2% of students did not take out student loans while in school, UW notes.
The average student loan debt among those who did take out loans is $27,107, which is slightly lower than the previous graduating class at $27,173.
Director of student financial aid Helen Faith said it was “great” to see the university’s FASTrack and Bucky’s Tuition Promise programs lower student debt.
“Our team celebrates the progress made and we will continue to deepen and strengthen our work to support student financial wellness, helping students to reduce their debt while building financial strategies to support their future success,” said Faith. “We value our graduates’ ability to repay their debt after graduation, and we will amplify this important work, especially in reducing the need for our Pell-eligible students to borrow loans in the first place.”
The university added that in less than a decade, the number of undergraduates graduating without student loan debt has grown by almost 10%.
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