Minnesota Among Top Five States With Highest Student Loan Debt [VIDEO]

Ugh, student loan debt is the worst and it seems, for the most part, there's no way around it.  Sadly, Minnesota is one of the states where the debt for a college education is pretty high.

According to an article from WCCO Minnesota comes in at #5 on the list of states with the highest student loan debt.  That's a pretty ugly spot to be in when furthering your education is encouraged and many times, required in order to get a better job.

Data from a study done by the Institute for College Access and Success shows that a college graduate in 2014 weighed themselves down with almost $32,000 in debt for a four year degree.  Ten years ago it was right around $19,000.  That's a huge jump if you ask me.

I don't really find this surprising because in 2004 I was looking at colleges and contemplating going to school in Wyoming.  It would have been cheaper for me to go there as a non-resident than here as a resident. That's crazy!

From the video above, much of the increase is blamed on the recession which may partially be true. However, I think a look at the institutions themselves is necessary. In order to get almost any job these days you need a college degree and the universities know that. So they put you in all these classes, some of which I would be willing to argue are totally worthless, and you get to spend a good portion of your life paying for them.

My question would be are these costs naturally rising due to the economy or are they being increased because you NEED that little piece of paper and institutions know students will pay for it?

Having been saddled with student loan debt myself, I've always said that I'm not going to allow that for my future children. I'm not saying I'm going to pay for them because there's always a lesson to be learned from debt, however I'm going to try my hardest to make sure they have little to no debt through student loans because being buried with that is no way to start your life.

By the way, Delaware came in at #1 and Utah last on this list.