America boasts some of the world’s highest-ranked universities, including MIT, Harvard, and Stanford. But many universities leave their students with tens of thousands of dollars of debt, which has ballooned in recent years. Here are 16 U.S. universities with the highest student indebtedness.
New York University (Stern School of Business)
The New York University Stern School of Business, famous for its high-ranking MBA program and for providing students and alums with extensive business and networking opportunities, had an average debt in 2019 of $108,594, according to Poets and Quants.
Cornell University (Johnson Graduate School of Management)
Cornell University’s Johnson Graduate School of Management is well known for its strong focus on sustainable global enterprise and for offering diverse MBA programs. Graduates had an average student debt of $108,059 in 2019.
Southern Methodist University (Cox School of Business)
The Cox School of Business at Southern Methodist University emphasizes personalized education and is renowned for its career opportunities and professional network. But in 2019, the average graduate had a student debt of $103,602.
UCLA (Anderson School of Management)
John E. Anderson Graduate School of Management, or UCLA Anderson, named for the American billionaire and established in 1935, is known for offering a wide range of MBAs, business analytics, and PhD degrees. The average student debt in 2019 was $98,818.
Carnegie Mellon University (Tepper School of Business)
The Tepper School of Business was originally named the Graduate School of Industrial Administration when it was founded by William Larimer Mellon in 1949. But after receiving a record $55 million donation from billionaire alumnus David Tepper, it was renamed the David A. Tepper School of Business. The school is known for combining analytics, business, and technology in its curriculum and had an average student debt of $98,433 in 2019.
Columbia Business School
Established in 1916, Columbia Business School is located in New York City’s business hub and is one of six Ivy League business schools. The school is known for having one of the world’s most competitive MBA programs and offers a variety of executive education programs. It had an average student debt in 2019 of $98,036.
Virginia Darden School of Business
The Virginia Darden School of Business in Charlottesville, named for the former governor of Virginia, Colgate Whitehead Darden Jr., is known for using the case teaching method. Established in 1955 and ranked among the top business schools in the country, the average student debt in 2022 was $114,043.
Yale School of Management
Established in 1976, Yale’s private research university conducts research in behavioral economics, entrepreneurship, and organizational behavior, among other areas. Famous for its focus on a cross-disciplinary approach and its global network of alumni, it was reported by Poets and Quants to have an average indebtedness of $104,882 in 2022.
UC-Berkeley Haas School of Business
The first business school at a public university in the U.S., Berkeley Haas’s notable faculty include Nobel laureates in economics, former Federal Reserve Chairs, and a Google chief economist. The average student debt in 2022 was $110,102.
Harvard Business School
Known for publishing the monthly Harvard Business Review, Harvard’s graduate business school in Boston, Massachusetts, was established in 1908. The school has a long list of famous alumni, with Business Insider quipping, “If you want to be an executive, billionaire, or U.S. president, it’s a good idea to graduate from Harvard Business School.” In 2022, the average student debt was $88,757.
Indiana University Kelley School of Business
Established in 1920, the Kelley School of Business offers personalized career coaching and is known for boasting a strong alumni network. A Business Insider report from 2020 revealed that graduates earned an average post-graduation salary of $110,000 to $120,000. The average student debt at the school in 2022 was $53,265.
Maine Maritime Academy
Maine Maritime is a public college located in Castine, Maine, focused on maritime training. Established in 1941 by the 90th Maine Legislature, it’s one of six non-federal marine training colleges in the U.S. According to an article from U.S. News, the class of 2019 had an average debt load of $56,897.
University of Detroit Mercy
The University of Detroit Mercy is Michigan’s largest Catholic university. Founded in 1877 and sporting three campuses, the university offers over 100 academic degree programs. In 2019, the average student indebtedness was $55,097.
Alabama State University
Alabama State University is a historically Black university in Montgomery, Alabama. Founded in 1867 during the Reconstruction Era, notable alums include former Chicago mayor Eugene Sawyer and Jesse White, the former Secretary of State for Illinois. The average graduate had a $54,177 debt in 2019.
Carthage College
Carthage College is located in Kenosha, Wisconsin, and is affiliated with the Evangelical Lutheran Church. Founded by Lutheran pioneers in 1847, Carthage offers a B.A. in over 40 areas of study and had an average student debt of $52,809 in 2019.
University of New England
Situated in Maine with campuses in Portland and Biddeford, the University of New England was established in 1831 and is the largest private university in Maine. UNE is also the largest educator of healthcare professionals in the Pine Tree State. The average student indebtedness in 2019 was $52,073.
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