Tennessee Tech ranks number one in Tennessee among public universities in giving graduates the best chance to repay student loans, according to two new surveys.
TTU ranks 83rd nationally in the data released by Student Loan Report, 121st by LendEDU.
The Student Loan Report looked at early career salary, student loan default rate, and average student loan debt per borrower to calculate its rankings. A TTU education produces an average debt of $19,363 with an early career salary of $51,000. The report data found that 5.3 percent of Tech graduates default on loans.
Vanderbilt ranked first among Tennessee schools with a higher early salary by some $10,000 and a higher loan amount. Vanderbilt graduates had a default rate of just .55 percent.
East Tennessee’s Lincoln Memorial University and West Tennessee’s Christian Brothers, both private schools, ranked third and fourth. The University of Tennessee ranked fifth. Austin Peay and MTSU both had default rates above 10 percent.
LendEDU compared the average student loan debt versus the average early career pay. TTU also ranked second overall statewide in that report.
“College is a significant investment,” Tennessee Tech President Phil Oldham said in a statement. “Students and their parents need to consider the return on that investment. These rankings, along with numerous others, show that Tennessee Tech provides a strong return on that investment by providing a high-quality education at an affordable price.”