U.S. states with the most student debt

(Source: Pixabay)
(Source: Pixabay)
Updated: Aug. 7, 2018 at 7:16 AM CDT
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(WMC) - With college students preparing for the fall semester and 10.7 percent of all student loans more than 90 days delinquent or in default (as of the first quarter of 2018), personal-finance website WalletHub has released its report on 2018's States with the Most and Least Student Debt.

To determine the states that are friendliest toward student-loan debtors, WalletHub compared the 50 states and the District of Columbia across 11 key metrics. The categories range from average student debt to unemployment rate among the population aged 25 to 34 to share of students with past-due loan balances.   

States with the Most Student Debt:

  1. South Dakota
  2. West Virginia
  3. Pennsylvania
  4. New Hampshire
  5. Ohio
  6. Mississippi
  7. Michigan
  8. Minnesota
  9. Iowa
  10. Indiana

Highlights:

Utah has the lowest average student debt, $19,975, which is 1.8 times lower than in New Hampshire, the state with the highest at $36,367.

Utah has the lowest proportion of students with debt, 43 percent, which is 1.8 times lower than in West Virginia, the state with the highest at 77 percent.

Massachusetts has the lowest share of student loans in past-due or default status, 7.44 percent, which is 2.3 times lower than in Mississippi, the state with the highest at 16.84 percent.

Hawaii has the lowest share of student-loan borrowers aged 50 or older, 3.86 percent, which is 2.6 times lower than in Vermont, the state with the highest at 10.03 percent.

To view the full report and see where Mid-South states rank, click here.

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