2022's States with the Most and Least Student Debt
Wallet Hub, Aug 24, 2022
Student debt is a huge problem in America. Save for mortgages, student loans make up the largest component of household debt for Americans. Our collective debt keeps growing, too. At the end of the first quarter of 2022, total outstanding college-loan balances stood at nearly $1.61 trillion, according to the Department of Education. That comes out to an average of $37,000 for each of the 43.4 million borrowers.
But not all states are equal when it comes to the burden of student loans. With student-loan debtors in mind, WalletHub compared the 50 states and the District of Columbia based on 11 key measures of indebtedness and earning opportunities. Our data set ranges from average student debt to unemployment rate among the population aged 25 to 34 to share of students with past-due loan balances.
Tip: If you’re considering borrowing money for college or are in danger of defaulting, we advise using a Student Loan Calculator to determine an affordable monthly payment and payoff timeline….
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|Grant & Student Work Opportunities
|Proportion of Students with Debt
|Student Debt as % of Income (Adjusted for Cost of Living)
|% of Student-Loan Balances Past Due or in Default
CS: Hawaii tops states in most delinquent student loans