Using federal figures from the graduating class of two years ago, the study found that, overall, about a third of all bachelor-degree recipients finished school with no student-loan debt; half had loan totals of less than $30,500; and 17 percent had loan amounts above that figure.

At public colleges, 38 percent had no loans, 51 percent had debt less than $30,500 and 12 percent borrowed more than $30,500. At private nonprofits, 28 percent had no debt, 48 percent had debt less than $30,500 and 24 percent owed more than that. However, only 4 percent of graduates at for-profit schools finished with no loans, while 43 percent had loans totaling less than $30,500 and 53 percent owed more than $30,500, the study showed.

Sandy Baum, the report’s co-author and a policy analyst for the College Board, said that for-profit schools may be the right decision for many students, but she said people should be cautious and consider their alternatives. For-profit schools tend to offer less in outright grant aid and enroll more lower-income students than colleges in the other categories, she said.