2022’s Cities with the Most & Least Student Debt

Wallet Hub, May 10, 2022

Post-college debts represent one of the biggest financial burdens to Americans. In fact, student loans make up the second highest form of household debt after mortgages, totaling a record $1.61 trillion. That works out to about $37,000 per borrower.

High balances combined with a payoff timeline that lasts into middle age force many graduates to significantly delay or forego other financial goals such as saving for retirement or buying a home. Paying back student loans has also become even more difficult due to the COVID-19 pandemic, though the government allowed temporary forbearance on federal student loans through May 1, 2022.

While we have a big student-loan debt crisis as a country, student-loan debts are more unsustainable in some places than others. To determine where borrowers are burdened the most, WalletHub compared the median student-loan balance against the median earnings of adults aged 25 and older with a bachelor’s degree in more than 2,510 U.S. cities.

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