Student debt is everywhere, and it’s something that’s quietly shaping millions of lives.
“The growth of student loan debt creates a ripple effect,” says Dr. Genevieve Dobson of the University of South Florida. “It delays major life milestones, suppresses consumer spending, and weakens retirement savings.”
With over $1.7 trillion owed, the impact stretches far beyond individual borrowers – it touches housing markets, entrepreneurship, and even national economic growth.
Not every state carries the same weight when it comes to debt. WalletHub’s latest report ranks all 50 states and D.C. based on 12 metrics, from average debt to job prospects for young adults.
“College keeps getting progressively more expensive, and so does borrowing money to attend,” notes WalletHub analyst Chip Lupo. With interest rates peaking and financial aid unevenly distributed, students are encouraged to plan wisely, choosing affordable schools, seeking grants, and borrowing only what they need. All in all, these are the states with the most and least student debt.
The top three in debt states are Mississippi, New Hampshire, and Pennsylvania respectively. Of the top ten states with the most student debt, South Carolina and West Virginia both have a high level of student loan indebtedness. But while their debt is high, so is their score for grant and student work opportunities. This indicates that these states have meaningful support systems in place to support students with a good amount of student debt.
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