States with Most Student Debt
According to a WalletHub study, some states have residents with more debt than others. The study compared the 50 states and the District of Columbia based on 12 key measures of indebtedness and earning opportunities.
The top 10 states with the most student debt are:
| Overall Rank* | State | Total Score | Student-Loan Indebtedness Rank | Grant & Student Work Opportunities Rank |
|---|---|---|---|---|
| 1 | Mississippi | 66.42 | 1 | 11 |
| 2 | Pennsylvania | 61.25 | 3 | 21 |
| 3 | Delaware | 60.85 | 4 | 18 |
| 4 | West Virginia | 60.00 | 7 | 5 |
| 5 | South Carolina | 58.28 | 6 | 25 |
| 6 | New Hampshire | 58.26 | 2 | 45 |
| 7 | South Dakota | 58.04 | 5 | 43 |
| 8 | New Jersey | 56.47 | 8 | 33 |
| 9 | Ohio | 55.42 | 9 | 22 |
| 10 | Kentucky | 55.33 | 14 | 2 |
States with Least Student Debt
The states with the least amount of student debt are:
| 41 | Florida | 35.98 | 41 | 24 |
| 42 | Nevada | 34.66 | 45 | 1 |
| 43 | Oregon | 34.02 | 44 | 10 |
| 44 | Colorado | 33.92 | 42 | 32 |
| 45 | Wyoming | 32.87 | 43 | 34 |
| 46 | Alaska | 31.95 | 46 | 16 |
| 47 | New Mexico | 29.76 | 47 | 31 |
| 48 | California | 27.70 | 50 | 19 |
| 49 | Washington | 26.92 | 49 | 35 |
| 50 | Hawaii | 26.69 | 48 | 39 |
| 51 | Utah | 20.33 | 51 | 12 |
Conclusion
It is clear that some states have a higher level of student debt than others. It is important for individuals considering student loans to research their options and plan carefully when borrowing.
FAQs
Q: What are the top 10 states with the most student debt?
A: The top 10 states with the most student debt are Mississippi, Pennsylvania, Delaware, West Virginia, South Carolina, New Hampshire, South Dakota, New Jersey, Ohio, and Kentucky.
Q: Which states have the least amount of student debt?
A: The states with the least amount of student debt are Florida, Nevada, Oregon, Colorado, Wyoming, Alaska, New Mexico, California, Washington, Hawaii, and Utah.
Q: How can I take out a loan responsibly?
A: It is recommended to use a Student Loan Calculator to determine an affordable monthly payment and payoff timeline. Additionally, it is important to consider other avenues of funding such as financial aid and grants, and to plan carefully when borrowing money.
