But you'll make up for it by landing a great job in a great state after graduation! We've all been there. Maybe we're still there decades later, just kicking back with our student loans and wondering when they'll go away. Maybe we need to move far away?
Wonder no more, because personal finance website WalletHub is here with its ranking of the best and worst states for student loan debt!
The "WalletGurus" at WalletHub wanted to learn which U.S. states have the highest levels of student debt compared to their residents' income levels and the overall muscle of the state economy. WalletHub relied on seven key metrics to look at all 50 states and the District of Columbia. These metrics included the level of average student debt; the percentage of students with past-due loan balances; and the state's unemployment rate for 20 and young 30-somethings.
So, what did WalletHub find?
It ranks Utah, Wyoming and North Dakota as the top-three best states for residents with student loan debt, while Mississippi (#51), Rhode Island (#50) and Connecticut (#49) rank at the bottom of WalletHub's list.
California ranks 37th, while New York ranks 45th. If you can make it there, then you can make it anywhere -- if you're free of student loan debt, that is. Don't start spreading the news. Still a fantastic song, though.
Here's a blue graph that sums up our nationwide student loan woes:
You can get the full report right here. Wow, two years of community college is looking like a much better deal all the time, isn't it?
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