CSU, Chico Ranked in Top 5 Nationally for Lowest Student Debt

The rising cost of higher education and overwhelming student debt upon graduation are legitimate concerns for students and their families. According to a new ranking, graduates from California State University, Chico take on some of the lowest debt of any school across the country.

LendEDU, a website that helps consumers learn about and compare financial products, like student loans, released its “Student Loan Debt by School by State 2020” report. In this fifth annual list, CSU, Chico ranked No. 5 nationally and No. 1 in the state of California for the lowest student debt figures among the nation’s Class of 2019.

Kentiner David, associate director of the University’s Financial Aid and Scholarship Office, said a number of factors can affect the amount of debt a college student graduates with, and explained that his office works to help students take on the smallest and fewest loans possible

“We encourage students to only borrow what they need as opposed to borrowing the maximum loan amounts every year,” David said. “This has a downward impact on the level of student borrowing at CSU, Chico.”

Additionally, because Chico has one of the lowest costs of living in the state and 85 to 90 percent of CSU, Chico students live within a mile of campus, commuting costs are reduced or eliminated altogether, compared to other commuter campuses around the country.

“CSU, Chico students walk, ride the city buses for free or ride their bikes to and from campus—there is no additional cost for their commute,” David said. “Most other commuter campuses are oriented in a way that requires their students to drive longer distances, adding to their cost.”

Enhancing the value of its affordability, CSU, Chico also has a reputation for providing outstanding education. It consistently ranks among the best in the West and across the nation for educational quality, the success of its graduates, and advancing the social mobility of its students and its families. Recent recognitions supporting this include Washington Monthly’s “Best Bang for the Buck Rankings,” CEOWorld Magazine’s “Most Transformative Colleges in the United States” rankings and US News & World Report’s “Top Public Schools” rankings.

Among its methodology, LendEDU looked at average student debt per borrower, and percentage of graduates with student loan debt, by college, both state and nationwide; each school’s and state’s overall average student loan debt per borrower; and public institutions with the lowest and highest average student loan debt per borrower.

In LendEDU’s rankings, five CSU campuses appeared among schools with the seven lowest student debt figures, both in the state and nationwide, including Cal State Fullerton (No. 11 nationally and second in the state) and Cal State Dominguez Hills (No. 24 nationally and No. 3 in the state).

The nation’s largest university system, the CSU remains one of the most affordable. Comparing institutions across the country, CSU tuition and fees for an academic year of undergraduate education averaged $7,278 in 2018–19, while the national average was $11,569. Average tuition and fees for the CSU for the 2019–20 academic year increased to $7,337 (a 0.8 percent jump), while nationally the average moved to $11,932 (a 3.1 percent increase).

Mike Brown, director of Communications at LendEDU, suggested that as the COVID-19 pandemic continues to unsettle personal finances, students and their families are carefully weighing higher education institutions against their financial options.

“Our rankings indicate that CSU, Chico looks like a place where they can expect to have a minimal student loan debt burden,” Brown said.