Mississippi ranks high for students in debt - WDAM-TV 7-News, Weather, Sports-Hattiesburg, MS

Mississippi ranks high for students in debt

Mississippi students are buried in financial debt.  Source: RNN Mississippi students are buried in financial debt. Source: RNN
HATTIESBURG, MS (WDAM) -

The number of college students buried in financial debt is growing, and it is worse for students in Mississippi.

A recent study by WalletHub ranks the Magnolia state as the ninth worst state for student debt.

Student debt is higher than even car loans right now.

University of Southern Mississippi Director of Financial Aid David Williamson said an average student graduating from The University of Southern Mississippi have $18,000 to $20,000 to pay back. He said at some schools in the state, the cost is higher.

Like many college students Southern Miss Senior Lucien Sterling has college debt.

“I don’t know exactly the exact amount I am in debt, but I do have to have it paid once I graduate,” Sterling said.

He said the biggest challenge is finding a job in the sports management field that will help pay off his loans.

“There are not a lot of jobs out here so we’re kind of limited to certain resources as far as other states are,” Sterling explained.

While students aren’t doing so great with debt ratio, Mississippi is ranked number one when it comes to availability for grants, but Williamson said Pell grants don’t cover full tuition.

“They get a lot of grants, because they don’t have discretionary income to pay the remaining of their student expenses so they have to get student loans to subsidize those expenses,” Williamson explained.

Williamson said parents can also help student decrease their loan debt.

“Have them plan early on in their development,” Williamson said.“In elementary and high school and make a plan for them to attend college. I know that might be hard for some families.”

Williamson also said students should think of debt as an investment.

“You’re investing in your career in hopes that you will have the ability to get this high income so you need to take that approach and limit for you what you just need to pay for your expenses.”

Click here, for more tips on how to financially plan for college and life after. 

Copyright 2016 WDAM. All rights reserved. 

  • Local NewsLOCALMore>>

  • JCJC guard Kira Bonner signs with Northwestern State

    JCJC guard Kira Bonner signs with Northwestern State

    Wednesday, April 25 2018 5:44 PM EDT2018-04-25 21:44:43 GMT

    The Jones County Junior College women's basketball program has put together a nice run the last couple years. During this time the Lady Bobcats have posted a 56-6 record and won two Region 23 titles.

    More >>

    The Jones County Junior College women's basketball program has put together a nice run the last couple years. During this time the Lady Bobcats have posted a 56-6 record and won two Region 23 titles.

    More >>
  • Petal Skate Park closed due to vandalism

    Petal Skate Park closed due to vandalism

    Wednesday, April 25 2018 5:27 PM EDT2018-04-25 21:27:14 GMT
    Petal authorities are investigating after someone broke into the park's storage room. (Photo source: WDAM)Petal authorities are investigating after someone broke into the park's storage room. (Photo source: WDAM)

    The Petal Skate Park has been closed due to vandalism.  Petal authorities are investigating after someone broke into the park's storage room, and the park will not reopen until they find the person responsible, according to a sign posted from Petal Parks & Recreation Associate Director Brian Hall. "If you would like the skate park to be opened back up sooner then please come up to the Parks and Recreation office and let us know who the vandal is. Until we fi...

    More >>

    The Petal Skate Park has been closed due to vandalism.  Petal authorities are investigating after someone broke into the park's storage room, and the park will not reopen until they find the person responsible, according to a sign posted from Petal Parks & Recreation Associate Director Brian Hall. "If you would like the skate park to be opened back up sooner then please come up to the Parks and Recreation office and let us know who the vandal is. Until we fi...

    More >>
  • UPDATE: Missing Oak Grove girl found safe

    UPDATE: Missing Oak Grove girl found safe

    Wednesday, April 25 2018 5:24 PM EDT2018-04-25 21:24:47 GMT
    Liberty Graci Lee Potts (Photo source: MBI)Liberty Graci Lee Potts (Photo source: MBI)

    The endangered/missing child alert issued for a 14-year-old Oak Grove girl has been canceled. Officials confirm Liberty Graci Lee Potts has been found safe.

    More >>

    The endangered/missing child alert issued for a 14-year-old Oak Grove girl has been canceled. Officials confirm Liberty Graci Lee Potts has been found safe.

    More >>
Powered by Frankly