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Abstract:Record high tuition prices have forced an increase in student loans across the US. WalletHub compared all 50 states and saw which ones fare the worst.
College prices have risen to historic highs.
One in five Americans have taken out student loans.
42% of millennials have take out student loans.
WalletHublooked compared student debt across all 50 states and shared the data with INSIDER.
Visit INSIDER's homepage for more stories.
College prices in 2019 have risen to unprecedented levels. Even with the rising costs, young people are still choosing to go to college and are increasingly being forced to take out massive student loans to pay for college. Today, an estimated one in five Americans are paying off student loans which has contributed to national student debt past $1.5 trillion. Student loans know no geographical bounds, but some places have more than others. So which states have it the worst?
Earlier this month, personal finance site WalletHub released data answering just that. To rank each state, WalletHub created a custom score based off of 12 metrics. The metrics include statistics like a state's average student debt, share of student debt, and available student jobs, amongst others.
WalletHub provided INSIDER with a look into how every state matches up in terms of average student debt, the percentage of students with debt, and the percentage of students who loans are past due or in default.
Continue scrolling down below to see how each state stacks up on student debt, from best to worst, as ranked by WalletHub.
50: Utah
Average student debt: $18,838
Percentage of students with debt: 38%
Percentage of student loans past due or in default: 8.48%
WalletHub debt score: 15.67
49: Hawaii
Average student debt: $25,125
Percentage of students with debt: 49%
Percentage of student loans past due or in default: 9.15%
WalletHub debt score: 24.21
48: California
Average student debt: $22,785
Percentage of students with debt: 50%
Percentage of student loans past due or in default: 9.44%
WalletHub debt score: 26.83
47: Wyoming
Average student debt: $22, 524
Percentage of students with debt: 47%
Percentage of student loans past due or in default: 11.41%
WalletHub debt score: 30.36
46: Washington
Average student debt: $22,936
Percentage of students with debt: 52%
Percentage of student loans past due or in default: 8.79%
WalletHub debt score: 30.67
45: District of Columbia
Average student debt: $30,775
Percentage of students with debt: 46%
Percentage of student loans past due or in default: 8.54%
WalletHub debt score: 31.21
44: Florida
Average student debt: $24,041
Percentage of students with debt: 50%
Percentage of student loans past due or in default: 13.65%
WalletHub debt score: 33.25
43: Nevada
Average student debt: $22, 064
Percentage of students with debt: 49%
Percentage of student loans past due or in default: 14.27%
WalletHub debt score: 30.68
42: Alaska
Average student debt: $25,682
Percentage of students with debt: 46%
Percentage of student loans past due or in default: 9.38%
WalletHub debt score: 33.38
41: Arizona
Average student debt: $23,967
Percentage of students with debt: 54%
Percentage of student loans past due or in default: 12.64%
WalletHub debt score: 36.50
40: Colorado
Average student debt: $26,530
Percentage of students with debt: 52%
Percentage of student loans past due or in default: 10.56%
WalletHub debt score: 38.35
39: New Mexico
Average student debt: $21,237
Percentage of students with debt: 54%
Percentage of student loans past due or in default: 15.21%
WalletHub debt score: 38.36
38: Virginia
Average student debt: $29,887
Percentage of students with debt: 56%
Percentage of student loans past due or in default: 9.7%
WalletHub debt score: 39.45
37: Oregon
Average student debt: $27,885
Percentage of students with debt: 56%
Percentage of student loans past due or in default: 11.67%
WalletHub debt score: 40.57
36: North Carolina
Average student debt: $26,526
Percentage of students with debt: 57%
Percentage of student loans past due or in default: 10.42%
WalletHub debt score: 41.01
35: Tennessee
Average student debt: $25,252
Percentage of students with debt: 56%
Percentage of student loans past due or in default: 13.86%
WalletHub debt score: 41.13
34. Maryland
Average student debt: $29,314
Percentage of students with debt: 56%
Percentage of student loans past due or in default: 10.37%
WalletHub debt score: 41.39
33: New York
Average student debt: $30,931
Percentage of students with debt: 60%
Percentage of student loans past due or in default: 5.61%
WalletHub debt score: 43.07
32: Louisiana
Average student debt: $27,210
Percentage of students with debt: 48%
Percentage of student loans past due or in default: 15.20%
WalletHub debt score: 43.15
31: Oklahoma
Average student debt: $25,952
Percentage of students with debt: 49%
Percentage of student loans past due or in default: 15.63%
WalletHub debt score: 43.24
30: Arkansas
Average student debt: $26,799
Percentage of students with debt: 55%
Percentage of student loans past due or in default: 14.37%%
WalletHub debt score: 43.54
29: Maine
Average student debt: $31,364
Percentage of students with debt: 56%
Percentage of student loans past due or in default: 9.91%
WalletHub debt score: 43.69
28: Idaho
Average student debt: $26,675
Percentage of students with debt: 61%
Percentage of student loans past due or in default: 11.59%
WalletHub debt score: 44.13
27: North Dakota
Average student debt: N/A
Percentage of students with debt: N/A
Percentage of student loans past due or in default: 8.54%
WalletHub debt score: 44.48
26: Nebraska
Average student debt: $25,750
Percentage of students with debt: 54%
Percentage of student loans past due or in default: 9.24%
WalletHub debt score: 44.74
25: Missouri
Average student debt: $27,108
Percentage of students with debt: 58%
Percentage of student loans past due or in default: 12.63%
WalletHub debt score: 44.90
24: Texas
Average student debt: $26,824
Percentage of students with debt: 55%
Percentage of student loans past due or in default: 13.75%
WalletHub debt score: 45.78
23: Illinois
Average student debt: $29,214
Percentage of students with debt: 61%
Percentage of student loans past due or in default: 9.65%
WalletHub debt score: 47.05
22: Massachusetts
Average student debt: $32,065
Percentage of students with debt: 59%
Percentage of student loans past due or in default: 7.58%
WalletHub debt score: 47.71
21: Georgia
Average student debt: $28,653
Percentage of students with debt: 57%
Percentage of student loans past due or in default: 13.09%
WalletHub debt score: 48.68
20: Alabama
Average student debt: $31,899
Percentage of students with debt: 50%
Percentage of student loans past due or in default: 15.17%
WalletHub debt score: 48.71
19: South Carolina
Average student debt: $30,891
Percentage of students with debt: 58%
Percentage of student loans past due or in default: 13.13%
WalletHub debt score: 49.72
18: Wisconsin
Average student debt: $29,569
Percentage of students with debt: 64%
Percentage of student loans past due or in default: 8.57%
WalletHub debt score: 50.36
17: Vermont
Average student debt: $30,651
Percentage of students with debt: 60%
Percentage of student loans past due or in default: 7.90%
WalletHub debt score: 50.66
16: Kentucky
Average student debt: $28,447
Percentage of students with debt: 64%
Percentage of student loans past due or in default: 16%
WalletHub debt score: 51.20
15: Connecticut
Average student debt: $38,510
Percentage of students with debt: 57%
Percentage of student loans past due or in default: 9.71%
WalletHub debt score: 51.80
14: New Jersey
Average student debt: $32,247
Percentage of students with debt: 61%
Percentage of student loans past due or in default: 8.57%
WalletHub debt score: 52.44
13: Indiana
Average student debt: $29,561
Percentage of students with debt: 57%
Percentage of student loans past due or in default: 13.95%
WalletHub debt score: 52.53
12: Kansas
Average student debt: $29,569
Percentage of students with debt: 59%
Percentage of student loans past due or in default: 13.11%
WalletHub debt score: 52.94
11: Delaware
Average student debt: $34,144
Percentage of students with debt: 62%
Percentage of student loans past due or in default: 10.35%
WalletHub debt score: 53.79
10: Rhode Island
Average student debt: $236,250
Percentage of students with debt: 64%
Percentage of student loans past due or in default: 10.40%
WalletHub debt score: 54.89
9: Michigan
Average student debt: $29,569
Percentage of students with debt: 58%
Percentage of student loans past due or in default: 12.23%
WalletHub debt score: 55.19
8: Ohio
Average student debt: $30,629
Percentage of students with debt: 62%
Percentage of student loans past due or in default: 13.31%
WalletHub debt score: 58.67
7: Mississippi
Average student debt: $30,439
Percentage of students with debt: 58%
Percentage of student loans past due or in default: 18.34%
WalletHub debt score: 59.56
6: Minnesota
Average student debt: $31,734
Percentage of students with debt: 68%
Percentage of student loans past due or in default: 9.26%
WalletHub debt score: 60.46
5: Iowa
Average student debt: $29,859
Percentage of students with debt: 63%
Percentage of student loans past due or in default: 12.60%
WalletHub debt score: 61.01
4: New Hampshire
Average student debt: $34,415
Percentage of students with debt: 74%
Percentage of student loans past due or in default: 8%
WalletHub debt score: 63.24
3: West Virginia
Average student debt: $27,505
Percentage of students with debt: 74%
Percentage of student loans past due or in default: 18.01%
WalletHub debt score: 63.41
2: Pennsylvania
Average student debt: $36,854
Percentage of students with debt: 67%
Percentage of student loans past due or in default: 10.60%
WalletHub debt score: 64.59
1: South Dakota:
Average student debt: $36,854
Percentage of students with debt: 74%
Percentage of student loans past due or in default: 9.87%
WalletHub debt score: 66.17
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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