Y., U., USU get spots on low-debt list

Three Utah universities have made U.S. News and World Report's list of schools that graduate students with the lightest debt loads.

Brigham Young University, Utah State University and the University of Utah joined 22 other national universities on the list released publicly today along with the magazine's annual report on best colleges.

BYU showed that 39 percent of its 2003 graduates left the school with debt from loans and financial aid, followed by 42 percent at the U. and 47 percent at USU.

The average amount of debt, or the average cumulative amount borrowed by students who incurred debt, was $11,301 at BYU, $11,500 at USU and $12,400 at the U.

BYU officials were pleased with the ranking.

"It's a little unusual," said Paul Conrad, BYU's financial aid director. "Usually a student at a private university can expect expenses to be much greater."

However, BYU's tuition is low for a private university because its sponsor, The Church of Jesus Christ of Latter-day Saints, subsidizes each student's education.

The church also counsels members to avoid unnecessary and excessive debt.

Additionally, BYU introduced the Financial Path program in 1998 to encourage students to estimate their future incomes and coordinate their borrowing activity accordingly. The program also suggests students seek family help, scholarships, grants and part-time jobs.

And before students borrow, BYU officials urge them to reduce expenses. For example, Utah Transit Authority allows BYU students to ride the bus for free.

"Financial Path has helped students make clear decisions and understand the impact of borrowing on their future opportunities," Conrad said.

As for the state-funded schools, it's no surprise to hear that USU and the U. made the list, according to Mark Spencer, associate state commissioner for finance and facilities. But those rankings, based on 2003 numbers, may not stick for long.

"We're mindful that tuition will most likely need to increase in the next year or two as we face reductions in state appropriations," Spencer said. "It'll catch up to us — as each ranking comes out in future years, we'll be less of a bargain as we have to accommodate our needs."

U. spokeswoman Coralie Alder and USU President Kermit Hall agree. They say the ranking underscores the fact that the U. and USU are a "tremendous bargain." Hall added that Utah students have a "resistance" to borrowing money for education.