Kansas ranks among states with most student debt

FILE
FILE(Pixabay)
Published: Aug. 25, 2022 at 12:02 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

TOPEKA, Kan. (WIBW) - With the President’s latest student loan announcement, Kansas has been found to be one of the states with the most student debt.

With the average student loan debt reaching about $37,000 per borrower and President Joe Biden’s recent announcement, personal-finance website WalletHub.com says it released its report on 2022′s States with the Most and Least Student Debt.

To find which states are friendliest toward student-loan debtors, WalletHub said it compared all 50 states and Washington, D.C., across data sets that range from average student debt to unemployment rate among the population aged 25 to 34 to the share of students with past-due loan balances. It said the lower the rank - the higher the student debt.

Source: WalletHub

The study ranked Kansas at No. 19, with a total score of 51.08, a student-loan indebtedness rank of 18 and a grant and student work opportunities rank of 33.

The Sunflower States border states, however, fared much better for student loan borrowers.

According to the study, Oklahoma ranked 22nd, with a total score of 48.91, a student-loan indebtedness rank of 24 and a grant and student work opportunities rank of 5. Missouri ranked 24th overall, with a total score of 47.92, a student-loan indebtedness rank of 20 and a grant and student work opportunities rank of 36.

Meanwhile, the study ranked Nebraska at 31, with a total score of 44.36, a student-loan indebtedness rank of 25 and a grant and student work opportunities rank of 42. Colorado ranked 44th overall, with a total score of 32.57, a student-loan indebtedness rank of 42 and a grant and student work opportunities rank of 34.

The study also found that Kansas has a home ownership rank for people between the ages of 25 and 34 of 19. Coupled with its overall rank, Kansas has a high student debt rank and a high homeownership rank.

The worst states for student debt are:

  1. West Virginia
  2. Pennsylvania
  3. South Dakota
  4. New Hampshire
  5. Mississippi

The best locations for student debt are:

  1. Utah
  2. Washington, D.C.
  3. California
  4. Washington
  5. New Mexico

For more information or to see where other states fall, click HERE.