Oregon's college students who graduated in 2015 took on an average debt load of nearly $27,000, about 5 percent less than the national average.

That's according to an analysis released Thursday by the website LendEDU. The examined financial aid data provided through Peterson Financial Aid's annual survey of colleges and universities. This year's report included data from 1,370 schools.

Nationwide, the average borrower took on $28,400 in debt in the class of 2015, according to the analysis.

According to a 2014 analysis by The Oregonian/OregonLive, over a ten-year period, Oregon students and their families borrowed more than $12 billion, more than double the amount from a decade earlier.

In the LendEDU analysis, Oregon ranked 32nd among states in the average amount of debt incurred by its college graduates. Connecticut led the country in average borrowing per student, at $36,865.

Utah graduates took out an average of $18,772, far and away the lowest rate in the nation.

Of Oregon's public universities, Portland State graduates took on the most debt, with an estimated $32,018 borrowing load.

Devin Hutchings, communications director of the Oregon Student Association, said the rising amount of borrowing overall isn't surprising. The association surveys its statewide student body each year and money woes have been the top issue for students for years.

Hutchings said a high debt load means students often struggle to afford food or housing once they graduate.

"When they're coming out of college, they're having to make decisions based on finances instead of making better career choices," she said.

An estimated 61 percent of Oregon graduates in 2015 took out loans to pay for school, slightly above the national average. Corban and Concordia Universities had the highest proportion of graduates with debt, at an estimated 84 percent. The University of Oregon had the lowest percentage of students who borrow, at just over half.

Michael Schill, UO's president, said the benefits of a degree will outweigh the borrowing for most students. In a June speech, he likened the average debt load to the cost of a Honda Accord.

"But unlike even a Honda Accord, the value of a college degree does not decrease," Schill said. "For most Americans, a college education is the best investment they will make in their lifetime."

The average debt total includes federal and private loans, and LendEDU broke out the rate of students which took out private loans and their debt loads, also.

Those figures tended to be higher. For example, Reed College graduates took out an average of $19,010 to graduate. But the small fraction of Reed graduates who took on private loans owed far more – an average of $53,968 in just the private borrowing, on top of any federal loans.

LendEDU said Oregon Tech, Oregon College of Art & Craft, Multnomah University and Pacific Northwest College of Art reported old data, so their numbers don't provide apples-to-apples comparisons.

LendEDU is an online marketplace that helps students refinance their loans. The company said the report was a snapshot and not every school participated.

Here's a look at the debt leaders:

-- Andrew Theen

atheen@oregonian.com

503-294-4026

@andrewtheen