MINNEAPOLIS (WCCO) – A new survey shows a lot of Minnesota college students are graduating with a lot of debt.

Minnesota ranks fifth in the nation for student debt.

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On average, they owe more than $30,000.

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About 77 percent of last year’s graduates had at least some debt when they finished college.

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The Minnesota Office of Higher Education said the state’s high college participation rate is part of the reason for the large amount of debt.