The Citizen - Page 9

Page |9 Education Post-secondary KEY FINDINGS:  Thirty-two percent of Sangamon County residents have a bachelor’s degree or advanced degree. Almost half (44 percent) of these individuals received this degree from a local college or university.  Almost all (96 percent) of Sangamon County residents report that post-high school institutions are important to the region. Ninety percent report that it is either “very important” (55 percent) or “somewhat important” (35 percent) for an individual to have a college degree. These numbers are identical to the 2013 findings.  Somewhat less than half of college graduates living in Sangamon County used public or private student loans to pay for their college education. Individuals without a college degree (individuals who attended trade school or some college) borrowed on average, $13,300. College graduates, those who completed a four-year college degree, borrowed, on average, $26,589. Individuals who have an advanced degree borrowed, on average, $38,837 (see figure below).  Younger adults report borrowing at a higher rate; individuals between the ages of 18 and 24 years old report that they borrowed, on average, $37,816. $45,000 $40,000 Student loan status and average amount borrowed 31% 31% 35% $38,837 30% $35,000 24% 25% $30,000 $25,000 19% $20,000 $26,589 20% 14% 15% $15,000 $10,000 $5,000 10% $13,300 4% $0 0% Some college or College graduate Advanced degree trade school Percent still making payments Percent in deferment or forbearance Linear (Average amount borrowed ) 1 5% Sangamon County citizens borrow $25,440 to attend postsecondary institutions. Americans, in general, borrow $28,400 to attend postsecondary institutions.1 Illinois residents borrow $28,543 to attend postsecondary institutions. Data is available from the Institute for College Access & Success at http://ticas.org/posd/map-state-data#.