Implications Average student loan debt at graduation is lower for New Hampshire residents than is the average debt of graduates from colleges located in New Hampshire. Along with the fact that a high percentage of high school graduates from New Hampshire enroll in colleges outside of the Granite State, this may indicate that high college costs, and thus higher debt levels, are a factor in deciding where New Hampshire high school graduates choose to pursue four-year college degrees. It is possible that some of New Hampshire’s high out-of-state migration of high school graduates is a function of their seeking more affordable postsecondary school options. Evidence of that possibility is considered in later sections of this report. Unfortunately, whether the average debt of college graduates is reported based on the states where colleges are located or by the state of residence of college graduates, by either measure debt levels are higher for New Hampshire colleges (or among New Hampshire residents graduating from colleges) than they are in other states. If high debt was only a function of colleges in New Hampshire graduating students with high debt levels we might expect our measure of the student debt of graduates from New Hampshire to be even lower, and closer to the national average because one-half of New Hampshire students enrolling in colleges enroll in a college in a state where the average debt of graduates is lower than it is in New Hampshire. But our findings suggest that there are other factors that influence the high debt levels of college graduates who are from New Hampshire. These factors include the choices made by high school graduates in the state, the characteristics of New Hampshire college students and their families, the characteristics of colleges in New Hampshire and the New England region, the financial aid practices of colleges, and the higher education policies of government. In the sections that follow, we consider the key factors that contribute to student debt levels at New Hampshire colleges and among New Hampshire residents.
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