DES MOINES, IA–Credit cards and student loans have swamped Iowa students with debt loads far higher than those in other states, so state officials hope a financial literacy summit can change the numbers.
Governor Terry Branstad said Monday that students have been showing progress when it comes to debt recently. Debt load has dropped for Iowa students who previously had the third highest in the country, the governor said, to ninth highest now.
Iowans graduated with an average debt of $29,370 in 2013, according to the Institute for College Access and Success. That compares to a national average of $28,400.
The summit is planned for May 5th at the Iowa Events Center in Des Moines. “Will look at this important issue from a state and national perspective,” said Ryan Wise, deputy director for the Iowa Department of Education.
Organizers say the event will provide information for student, parents and educators. It costs $50 per person with room for 500 people.
Registration is open until April here.