Mike Davies
August 2016

Top 10 Best States for Student Loan Borrowers

WalletHub ranked all 50 states and the District of Columbia on which states were the best for student loan borrowers

Source: WalletHub

There is a best and worst of everything: sandwiches, football teams, property value. WalletHub just put out an article ranking the best and worst states for student loan debt. They used nine metrics to track these states ranging from average student debt, the unemployment rate for people aged 25-34, percentage of students of past-due loan balances, availability of jobs for recent grads, and more.

Jill Gonzalez, a WalletHub analyst who led the charge on the ranking of all 50 states and the District of Columbia, said “No clear regional ties here. It wasn’t like the best and worst states were concentrated on the coasts or in the South.” The only trend that did seem to appear was that “Generally if a state did really well in one category, it did well in others.” Gonzalez said.

Here are the Top 10 Best States for Student Loan Borrowers:

  1. Utah
  2. Wyoming
  3. North Dakota
  4. Nevada
  5. Virginia
  6. Washington
  7. Alaska
  8. Colorado
  9. Hawaii
  10. New Mexico

The Top 10 Worst States for Student Loan Borrowers: (number one being the worst)

  1. District of Columbia
  2. West Virginia
  3. Oregon
  4. Maine
  5. Pennsylvania
  6. Vermont
  7. South Carolina
  8. New Hampshire
  9. Mississippi
  10. Ohio

It does appear between the best and worst states that the best states tend to be on the west coast while the worst states are on the east coast. It isn’t a hard and fast rule seeing as how Oregon is the third worst and Virginia is the fifth best, but the map appears to skew worse the farther east you go.

Source: WalletHub

If you want more information there is an, “Ask the Experts” section of the article where they pose the same eight questions to twelve experts to give a little extra insight on your student loans. These questions range from tips on how to minimize debt taken out for college to considering the return on investment on taking on debt for college. If you’re looking at seeking higher education maybe this list will help you figure out where to attend and plan a future.

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Mike Davies

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