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Best and worst colleges for student borrowers

Pedestrians in front of the William Barton Rogers Building at the Massachusetts Institute of Technology campus in Cambridge, Massachusetts.

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Best and worst colleges for student borrowers

Americans owe a record $1.2 trillion in student loan debt. To help borrowers better understand how long it may take to pay those balances off, the White House recently published the College Scorecard database. It includes median income data for graduates of schools who received financial aid as reported by the Internal Revenue Service along with student loan balances from the Department of Education.

MagnifyMoney.com, a price comparison website, did a cash-flow analysis of 884 schools in the College Scorecard database to determine which are the best and worst colleges for student loan borrowers.

Read MoreYou wasted all that money on a college degree?

"The best schools on the list help students generate the highest income after student loan expenses, and the worst schools have students with the lowest income after student loan expenses," said Nick Clements, MagnifyMoney's co-founder.

Here are the bottom five and top five colleges for student borrowers on MagnifyMoney's list ranked by average income after student loan payments.

—By CNBC's Tom Anderson
Posted 21 Sept. 2015

Victor J. Blue | Bloomberg | Getty Images