It is no secret that student debt is on the rise. Not only are colleges charging more in tuition bucks, but many former students are also struggling to pay hefty monthly loan payments after graduating. According to a recent article on Bloomberg.com, Americans owe an astonishing $1.2 trillion in student-loan debt.

With college degrees more important than ever for achieving career success, many students and their families are wondering about the best options for earning their degrees. To help teenagers and their parents make this crucial decision, US News & World Report has ranked the colleges and universities where students graduate with the least amount of debt.

10 Colleges with the Least Student Debt

Want to make sure you aren’t burdened by debt in your post-college years? Consider earning your degree at one of the following ten high-ranking schools with the least student debt after graduation.

alice lloyd college least student debt1. Alice Lloyd College (KY)

Ranked #40 on US News’ list of regional colleges of the South, Alice Lloyd offers grads a fantastic education with an average debt load of just $3,750.

2. Princeton University (NJ)

Number one on US News’ list of the best colleges, Princeton is a surprisingly affordable option for those who are accepted. In fact, student debt load averages just $5,000!

3. College of the Ozarks (MO)

Interested in earning a degree in the Midwest? Ranked #9 among Regional Colleges of the Midwest, the College of the Ozarks offers students an average debt of under $8k along with degree options in firefighting, agriculture and homeland security.

4. Berea College (KY)

A tuition-free private college in Kentucky, Berea requires students to work 10 hours a week while earning degrees in education, engineering and business among other fields.

touro college us news least student debt5. Touro College (NY)

Want to earn an affordable degree in the northern part of the country? Consider Touro College, where 85 percent of undergraduates receive some form of aid. The average debt load at this Jewish-sponsored school is less than $8,000.

6. Williams College (MA)

Interested in studying at the #1 National Liberal Arts School according to US News & World Report? Then you might want to consider Williams. Located in beautiful western Massachusetts, Williams offers excellent academics along with small class sizes and a student debt load of just $8,801.

7. Yale University (CT)

One of the country’s most prestigious universities, Yale is also one of the more affordable options with an average student debt load of less than $9k. This Ivy-league institution also offers an amazing freshman retention rate of 99 percent.

8. University of Maine–Fort Kent (ME)

A public school with a wide range of majors including health, education and business, the University of Maine in Fort Kent offers great financial aid options for the 56 percent of applicants accepted.

Tennessee Technological University us news least student debt9. Tennessee Technological University (TN)

Interested in earning a technical degree without going into debt? Consider TTU, which offers a wide variety of major programs and concentrations including civil, chemical and mechanical engineering. Students at this Tennessee institution average just under $10,000 in debt.

10. Hampton University (VA)

A historically black college known for its strong family values, Hampton offers affordable tuition for a wide range of academic majors including psychology, business and nursing.

Earn an Excellent Education Without the Debt

With tuition prices skyrocketing, many students think they have little choice but to accumulate tens of thousands in student debt to earn a degree. If you are interested in saving money on a first-rate education, consider one of the above ten colleges and universities. Each of these fine institutions proves that career success doesn’t have to mean years of debt.

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Sources:
http://www.bloomberg.com/news/2013-09-30/student-loan-defaults-rise-in-u-s-as-borrowers-struggle-1-.html
http://www.usnews.com/education/best-colleges/the-short-list-college/articles/2012/12/26/10-colleges-where-graduates-have-the-least-debt

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