Home > Gary Gahan > New Hampshire College Students Facing Debt Crisis By Gary A. Gahan

New Hampshire College Students Facing Debt Crisis By Gary A. Gahan

As the national debt crisis continues to top voters’ lists of concerns, college students in New Hampshire are facing their own debt woes. A recent report ranks the state first in average student loan debt, and interest rates are scheduled to double on federally subsidized loans this summer.

In 2010, New Hampshire’s college students with student loans graduated with an average of $31,000 in debt, according to the Institute for College Access and Success. Politicians already are laying blame for the student loan debt crisis, although some experts say the situation does not have a simple explanation.

State and national leaders will be forced to examine the issue as more and more graduates default on student loans. Proposed solutions range from restricting eligibility for student loans to students pursuing degrees that lead to high-value jobs to freezing the interest rate while strengthening the economy so graduates can find good jobs.

Many of New Hampshire’s college graduates have a lot at stake. If the rates double on July 1, students in the state will incur an additional $30 million in debt.

About the Author: Gary Gahan is a political activist who lives and works in New Hampshire.

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