Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

In which states do college grads carry the most debt?

06/06/2016

Download PDF

Reposted from Credio; by Christina Lavingia

The world is your oyster, they say. Just study hard, apply yourself and have endless opportunities greet you upon graduation. Sounds rewarding enough, until costs are factored in.

According to Student Loan Hero, the average student celebrating commencement this spring will leave the hallowed halls of her alma mater $37,172 in the hole.

Using FinAid.org’s repayment calculator, a college graduate with $37,172 in debt would need to make $51,333 annually to pay that debt down over the course of 10 years. According to Time, however, the median salary of liberal arts and humanities graduates is just $36,237 right out of school. Only engineering graduates make above the $50K mark, with the average for all college graduates sitting at $45,478.

Over 40 million Americans carry student loan debt, equaling $1.3 trillion in total.

The team at Credio wanted to see how the U.S. states’ student loan burden compares. To do this, they analyzed the amount of student loan debt per capita (amount attributable to all citizens) in all 50 states and ranked them from lowest to highest. This list features the 10 worst states ranked in that order and includes the student loan delinquency rate (measured as the percent of student debt that is at least 90 days delinquent), the percentage of state residents with at least a bachelor’s degree and the median income in the state.

10. New Jersey

Student Loan Debt per Capita: $5,200 Student Loan Debt Delinquency Rate: 8.95% Percent of State Residents With a Bachelor’s Degree: 36.40% State Median Income: $36,359 9. New Hampshire

Student Loan Debt per Capita: $5,260 Student Loan Debt Delinquency Rate: 9.39% Percent of State Residents With a Bachelor’s Degree: 34.40% State Median Income: $33,821

8. Colorado

Student Loan Debt per Capita: $5,300 Student Loan Debt Delinquency Rate: 10.21% Percent of State Residents With a Bachelor’s Degree: 37.50% State Median Income: $31,674 7. New York

Student Loan Debt per Capita: $5,330 Student Loan Debt Delinquency Rate: 9.16% Percent of State Residents With a Bachelor’s Degree: 33.70% State Median Income: $32,829

6. Pennsylvania

Student Loan Debt per Capita: $5,350 Student Loan Debt Delinquency Rate: 10.21% Percent of State Residents With a Bachelor’s Degree: 28.10% State Median Income: $28,912 5. Ohio

Student Loan Debt per Capita: $5,510 Student Loan Debt Delinquency Rate: 12.30% Percent of State Residents With a Bachelor’s Degree: 25.60% State Median Income: $26,520

4. Massachusetts

Student Loan Debt per Capita: $5,630 Student Loan Debt Delinquency Rate: 8.14% Percent of State Residents With a Bachelor’s Degree: 40.00% State Median Income: $36,441 3. Maryland

Student Loan Debt per Capita: $5,670 Student Loan Debt Delinquency Rate: 10.53% Percent of State Residents With a Bachelor’s Degree: 37.30% State Median Income: $36,670

2. Minnesota

Student Loan Debt per Capita: $5,730 Student Loan Debt Delinquency Rate: 8.54% Percent of State Residents With a Bachelor’s Degree: 33.20% State Median Income: $31,642 1. Georgia

Student Loan Debt per Capita: $5,870 Student Loan Debt Delinquency Rate: 12.96% Percent of State Residents With a Bachelor’s Degree: 28.30% State Median Income: $25,427

Compare Financial Products on Credio

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • When a second home becomes a first home: helping buyers make the switch

    For many luxury buyers, a dream home is within reach — in fact, they might already own one. As hom...

  • Switcher Studio brings easy, broadcast-level video production to the iPhone

    September is Marketing and Branding Month at Inman. That means we’re talking to the chief marketin...

  • Looking for a simple solution to social media? Try PropertySimple

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Furnished or unfurnished? 3 agents weigh in

    When putting a property on the market, a seller has a variety of options: list the home fully furnis...

  • Want video landing pages in a snap? Real Estate Shows might be for you

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Renovation-averse buyer? We have tips for that

    Luxury real estate buyers lead increasingly complex lives, so it’s no surprise that many are optin...

  • Openhouse Live makes Matterport tours a group event

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Rethinking home: How buyers are reprioritizing amenities

    Among all the shifts that have happened this year, the fact that businesses rely on a distributed wo...

  • Not good at arranging throw pillows? Good thing there’s Stagerie

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The Instagram playbook: how to make your listings stand out in the age of visuals

    When today’s emerging affluent consumer wants to curate a gallery of their lives through video and...

September 2020
Mon Tue Wed Thu Fri Sat Sun
 123456
78910111213
14151617181920
21222324252627
282930  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...