ALFRED — When compared with all other colleges within the State University of New York (SUNY) system for the lowest average student debt, Alfred State College (ASC) comes in at No. 1 according to Money Magazine.
In its most recent Best Colleges for Your Money rankings, Money Magazine calculates the average student debt amount for Alfred State at $13,000, placing ASC at No. 1 and lowest among SUNY schools and No. 8 when compared to all New York State public and private colleges. According to the rankings, how quickly Alfred State students earn their degrees lowers the average student debt significantly.
Money Magazine determined average student debt by considering a school’s cost information, how much the school awards in grants and scholarships, the amount of federal student loans granted, and the average time it takes the school’s students to earn a degree, all as reported to the U.S. Department of Education.
Alfred State is one of just 739 colleges nationwide to have made Money Magazine’s Best Colleges for Your Money list. To make the cut, colleges had to have at least 500 students; have sufficient, reliable data to be analyzed; not be in financial distress; and have a graduation rate that was at or above the median for its institutional category or have a high “value-added” graduation rate.