LendEDU’s College Student Loan Debt Rankings by State report for 2018 has ranked Olivet College first on its Michigan list of private colleges for having the lowest average student debt per borrower, and third overall in the state. Olivet College joins the likes of the University of Michigan and the University of Michigan-Dearborn in the top five.
The report found that the average OC student debtor will owe $26,872. Eighty-seven percent of Olivet College graduates leave with some student debt. Michigan’s overall average debt per student borrower is $30,978, with 58 percent of all college graduates leaving school with some debt. Olivet College students were awarded $14.8 million in scholarships and grants for the 2018-19 academic year.
“It is an honor to be recognized for the intentional work of the college to provide affordable education. Our efforts to keep tuition and fees among the lowest of all Michigan private colleges while providing a quality, value-added liberal arts curriculum makes Olivet College the college of choice in the capital region,” said Lisa Lehman, vice president for admissions. “We want all students to have the opportunity to attend college. By providing institutional, merit-based aid to nearly all of our students, we foster a diverse campus community filled with students who graduate with minimal debt and are prepared for the next phase of their lives.”
Ninety-nine percent of Olivet College students receive some form of financial aid, which is key to graduating with lower debt. The average student financial aid award package for 2018-19, including all federal, state, institutional and private grants and loans was $29,481. A diverse offering of scholarships and grants, including several talent-based scholarships, make college affordable for students who might otherwise not be able to attend.
The Olivet College ADVANTAGE was created to ensure students receive a quality education, with unrivaled value and includes a four-year graduation guarantee. “By graduating in four years students leave with less student loan debt and more earning potential over their lifetime of employment. At Olivet, we pair each student with an adviser to develop an academic plan that maps out four years of study,” said Lehman. “By graduating on time, OC students get a jump start on their earning power and are ahead of their peers.”
In addition to the four-year graduation guarantee, the Olivet College ADVANTAGE also guarantees its students service learning projects that include meaningful, hands-on experiences, global travel opportunities that provide diverse and innovative educational experiences abroad, and industry-leading internship and research opportunities.
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Learn about the variety of financial aid opportunities offered to help you earn an Olivet College degree by contacting the Office of Admissions at 800.456.7189 or firstname.lastname@example.org.