Purdue student debt dips after record highs

Student debt is at its lowest point since 2006-07, according to year-end data presented by President Mitch Daniel at Friday’s Board of Trustees meeting. Total borrowing of all undergraduate and graduate students peaked in 2011-12 at $223 million and dropped 23 percent — or $50 million — since then.

Efforts to educate students and parents about reckless borrowing have paid off, said Pam Horne, dean of admissions. Now, they’re less likely to take out loans they don’t need or can’t pay back.

“It’s not that all debt is bad,” Horne said. “It can be a really good investment, but we don’t want students to borrow that which they don’t need. ... We see that paying off in terms of student behavior and parent behavior, too, as to how they’re approaching financing.”