Cities with the most, least student loan debt in 2022: report
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Student loan debt in the U.S. has reached a record of $1.61 trillion, but some places in the country are struggling more with the burden than others, according to a new report.
On Tuesday, WalletHub published a report on the U.S. cities with the most and least student debt.
For its report, WalletHub looked at more than 2,150 U.S. cities and used TransUnion data to find the median student loan balance in those cities.
BIDEN’S STUDENT LOAN FORGIVENESS PLAN: EVERYTHING WE KNOW SO FAR
WalletHub then divided that number by the median earnings of adults aged 25 and older with a bachelor’s degree, according to the report’s methodology.
WalletHub then found the cities where student loan debts are more unsustainable by ranking the cities based on the ratio of student debt to median earnings.
BIDEN’S STUDENT LOAN FORGIVENESS PLAN: BREAKING DOWN THE COST
To see the overall results, here are the cities with the most and least student loan debt, according to WalletHub.
Cities with the most student loan debt
Selma, Alabama, was found to have the highest ratio of student debt to median earnings of bachelor’s degree holders, according to WalletHub. The Edmund Pettus Bridge in Selma is pictured. (iStock) 1. Selma, Alabama Ratio of student debt to median earnings of bachelor’s degree holders: 84.33% 2. Ypsilanti, Michigan Ratio of student debt to median earnings of bachelor’s degree holders: 83.64% 3. Avon Park, Florida Ratio of student debt to median earnings of bachelor’s degree holders: 83.14% 4. Cordele, Georgia Ratio of student debt to median earnings of bachelor’s degree holders: 81.85% 5. Ridgeland, Mississippi Ratio of student debt to median earnings of bachelor’s degree holders: 81.53% GET FOX BUSINESS ON THE GO BY CLICKING HERE Coachella, California, was found to have the lowest ratio of student debt to median earnings of bachelor’s degree holders, according to WalletHub. (iStock / iStock) 1. Coachella, California Ratio of student debt to median earnings of bachelor’s degree holders: 12.66% 2. Sunnyvale, California Ratio of student debt to median earnings of bachelor’s degree holders: 16.13% 3. Bronxville, New York Ratio of student debt to median earnings of bachelor’s degree holders: 17.43% 4. Delano, California Ratio of student debt to median earnings of bachelor’s degree holders: 17.83% 5. Gilroy, California Ratio of student debt to median earnings of bachelor’s degree holders: 17.91% CLICK HERE TO READ MORE ON FOX BUSINESS Source: Read Full Article
Cities with the least student loan debt
