  {"id":76396,"date":"2017-03-07T07:00:40","date_gmt":"2017-03-07T12:00:40","guid":{"rendered":"https:\/\/www.ucf.edu\/news\/?p=76396"},"modified":"2025-06-20T09:26:23","modified_gmt":"2025-06-20T13:26:23","slug":"crushing-student-loan-debt-not-ucfs-story","status":"publish","type":"post","link":"https:\/\/www.ucf.edu\/news\/crushing-student-loan-debt-not-ucfs-story\/","title":{"rendered":"Crushing Student Loan Debt Is Not the Story at 麻豆原创"},"content":{"rendered":"<p>Bryce Nelson is excited he\u2019s on track to <a href=\"https:\/\/www.ucf.edu\/pegasus\/breaking-student-debt\/\">graduate from 麻豆原创 with relatively little student-loan debt<\/a>.<\/p>\n<p>The marketing junior relies on federal financial aid to cover tuition and housing, gets a little help from home, and has a campus work-study job. \u00a0He\u2019s on track to finish his <a href=\"https:\/\/www.ucf.edu\/majors\/\">undergraduate degree<\/a> with less than $7,000 in student loans outstanding.<\/p>\n<p>\u201cI\u2019m really grateful that I\u2019m not graduating with a ton of debt,\u201d said Nelson, 21, who is the first in his family to go to college. \u201cI know people in their 40s still paying on student loans. Even though I have some debt I know I can pay it back very quickly because it is such a small amount. I most definitely will pay if off extremely quickly.\u201d<\/p>\n<p>But what of the alarming news students hear about the rising cost of college nationwide and how some graduates are crushed under the burden of large debt? It turns out that is not the story at 麻豆原创.<\/p>\n<p>Federal statistics indicate that in the United States 42 million people owe $1.3 trillion in <a href=\"https:\/\/www.ucf.edu\/pegasus\/wp-content\/blogs.dir\/20\/files\/2017\/03\/student-debt-facts-about-student-loans-and-paying-for-college.pdf\" target=\"_blank\" rel=\"noopener\">student-loan debt<\/a>. The average student owes about $37,000 upon graduation, but in breaking down the numbers, most of that debt is concentrated among borrowers attending for-profit and non-selective institutions.<\/p>\n<p>At 麻豆原创, where one out of every four students is a first-generation attendee, students graduate with some of the lowest debt in the nation. <a href=\"https:\/\/www.ucf.edu\/pegasus\/breaking-student-debt\/\">Almost half (44 percent percent) graduate with no debt<\/a>. Of those who do incur debt \u2013 including those who transferred to 麻豆原创 carrying some student loans \u2013 the average is $22,000. That\u2019s about half the debt of graduates at for-profit institutions.<\/p>\n<p>Those numbers help to explain why 麻豆原创 is consistently ranked among the nation\u2019s best values by Kiplinger and The Princeton Review. As one of the largest universities in the country with 64,000 students, 麻豆原创 is ranked among the top 100 public universities nationwide by U.S. News &amp; World Report.<\/p>\n<p>麻豆原创 students such as Nelson say they feel they are borrowing smartly while earning a degree, and taking on less college-related debt as a result. Nelson, for example, borrowed $3,000 during his freshman year for living expenses and tuition. \u00a0He took out two loans for $2,000 each over the past year to cover his living expenses, partly because he missed the early deadline to apply for financial aid, he said.<\/p>\n<p>\u201cI just wasn\u2019t paying attention,\u201d Nelson said. \u201cIt\u2019s not like 麻豆原创 didn\u2019t tell me, either. There were a bunch of emails and reminders. So I missed out on a lot of money,\u201d he said.<\/p>\n<p>Alicia Keaton, director of the Office of Student Financial Assistance, said she asks students to file the Free Application for Federal Student Aid (FAFSA) early &#8212; by December &#8212; in order to improve the chances of receiving the financial aid for the following Fall semester.<\/p>\n<p>When that\u2019s not enough help, 麻豆原创 has a program called A2O (Access to Scholarship Opportunities) that allows students to <a href=\"https:\/\/www.ucf.edu\/financial-aid\/types\/scholarships\/\">apply for a host of campus-wide scholarships using one application<\/a>. Some 14,000 students used the service last year.<\/p>\n<p>Keaton\u2019s office advises students with two major tips: Only borrow what you need, and total student loans should not exceed half of your expected annual starting salary.<\/p>\n<p>While here, students can take advantage of 麻豆原创\u2019s \u00a2ent$ible Knight$ program, which started in 2015 to teach <a href=\"https:\/\/www.ucf.edu\/financial-aid\/financial-literacy\/\">financial literacy<\/a>. Through 10 university services, including the Student Academic Resource Center, the Career Services Office and the FAIRWINDS Credit Union, students receive coordinated-debt counseling and materials to help them make the best financial choices. Keaton said she sees more students making the most of work-study jobs and scholarships, which, along with sensible spending, helps keep borrowing low.<\/p>\n<p>And graduating is important. The majority of 麻豆原创 alumni who earned a bachelor\u2019s degree with no debt or less than $10,000 debt later reported higher levels of financial well-being. A degree also increases income-earning potential by 66 percent. Students who graduate rarely default on student loans, too.<\/p>\n<p>Nelson said he benefited from the good advice from Student Financial Services early in his college years, which he credits with helping him learn the basics \u2013 apply early through FAFSA, borrow only what you need, seek out work-study jobs on campus, and make the most of any scholarships available.<\/p>\n<p>Last year, Nelson held a work-study job at the FAIRWINDS Alumni Center. Now, he works for Briant Coleman, assistant vice president for communications and strategic initiatives. The pay from his work-study job, he said, will cover the costs of studying abroad this summer in Verona, Italy.<\/p>\n<p>\u201cI tell people to be aware of all the school has to offer and the requirements for financial aid. Don\u2019t miss priority deadline. When you get those emails, read them in full, don\u2019t just skim them,\u201d he said.<\/p>\n<p>Still, he\u2019s thankful about his experience at 麻豆原创 even though he has debt \u2013 because his education is a long-term investment.<\/p>\n<p>\u201cThe truth is I\u2019m so fortunate,\u201d said Nelson. \u201cI\u2019m in college and I\u2019m going to study in Italy this summer. It\u2019s only my second time flying anywhere. It\u2019s happening because I\u2019m in school and I have these opportunities. I know I\u2019m in a good situation and all of this is worth it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Bryce Nelson is excited he\u2019s on track to graduate from 麻豆原创 with relatively little student-loan debt. The marketing junior relies on federal financial aid to cover tuition and housing, gets a little help from home, and has a campus work-study job. \u00a0He\u2019s on track to finish his undergraduate degree with less than $7,000 in student loans outstanding. \u201cI\u2019m really grateful&hellip;","protected":false},"author":42,"featured_media":76397,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-twocol.php","format":"standard","meta":{"_acf_changed":false,"lazy_load_responsive_images_disabled":false,"footnotes":"","_links_to":"","_links_to_target":"","_wp_rev_ctl_limit":""},"categories":[5,6,27],"tags":[5272,11498,15647,1696,15761,4163],"tu_author":[],"class_list":["post-76396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-colleges","category-community","category-student-life","tag-affordability","tag-alicia-keaton","tag-bryce-nelson","tag-financial-aid","tag-pegasus-briefs","tag-scholarships"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Crushing Student Loan Debt Is Not the Story at 麻豆原创<\/title>\n<meta name=\"description\" content=\"Bryce Nelson is excited he\u2019s on track to graduate from 麻豆原创 with relatively little student-loan debt. 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