An online marketplace for financial products, including student loans, reports that California University of Pennsylvania students graduate with less student loan debt than their peers at most other Pennsylvania colleges and universities.
In its third annual Student Loan Debt by School by State report, LendEDU ranked Cal U among the 10 Pennsylvania schools that leave the average student borrower with the least educational debt.
The LendEDU analysis was based on financial aid data from 1,080 four-year colleges and universities, both public and private.
The survey ranked Cal U No. 8 in Pennsylvania, meaning that only seven other colleges graduate students who, on average, owe less in student loans.
About 91 percent of Cal U students borrow to meet college costs, the report says. The average Cal U student graduates owing about $2,000 less than the national average for all student borrowers, and about $10,000 less than the average for student borrowers in Pennsylvania.
Cal U’s low tuition rate is one factor in the ranking. Scholarships also can reduce student debt, and Cal U does all it can to assist qualifying students. Last year Cal U awarded over $2 million in merit- and need-based scholarships.
The university works with students and their families to identify grants, loans and work-study opportunities that can reduce the cost of attending Cal U. Students also are educated about making sound financial decisions.
“Our Financial Aid and Student Accounts staffs work diligently with our students and their families to promote responsible borrowing,” says Jeff DeRubbo, director of Financial Aid.
“We have instituted financial literacy programs into our First-Year Seminar courses and provide multiple financial literacy tools on our website to help families understand responsible borrowing.”
Students still have time to register for fall classes at Cal U. Classes begin Aug. 27. For details, visit calu.edu/admissions or contact the Admissions Office at 724-938-4404 or admissions@calu.edu.