Florida Poly ranks #1 in state for grads with lowest student debt

LAKELAND, Fla., Jan. 31, 2024 /PRNewswire/ -- Florida Polytechnic University graduates begin their careers or graduate studies with the least amount of debt of any university in the state, according to a recent analysis comparing the average debt of college students across Florida.

Florida Poly ranked No. 1 on the list of lowest student debt with an average of $14,250. According to the report by the Palm Beach Post, the average student debt statewide reaches nearly $40,000. The analysis used data from the U.S. Department of Education and only included students who received federal loans or grants.

"While STEM degrees lead to higher wages and better career options, they're also more costly than many other degrees. Achieving our low student debt rates in that environment underscores our commitment to high-quality, affordable education," said Dr. Randy Avent, the University's president. "We are proud to offer students top-quality engineering and applied sciences degrees that prepare them to excel in high-demand, low supply careers right after graduation."

The 44 public and private institutions included in the analysis are accredited by the Southern Association of Colleges and Schools Commission on Colleges and primarily award bachelor's degrees.

Among first-time-in-college graduates during the 2021-2022 academic year, only 31% of Florida Poly students graduated with loan debt, according to the University's Office of Admissions and Financial Aid. Students' most common aid sources are Florida Poly Scholarships, federal grants, and the state's Bright Futures program.

"Florida Poly stands out for its great affordability, and also because our graduates earn the highest average salaries among Florida's public universities," said Deanna Voss, Florida Poly's interim vice provost for enrollment management. "Students graduating with a STEM degree from Florida Poly see great value for their investment and are positioned to be in high demand in the job market."

SOURCE Florida Polytechnic University