All this student loan debt makes us want to create an account on Sugar Daddies dot com. 🍭 We just want to browse, OK? Maybe there’s a silver fox out there who can pay the bills and take us on a months-long Euro trip. 😎✈️
WalletHub just dropped a hit list of states with the highest student loan debt. Where does the Keystone State fit? 🧐 Keep reading!
Here’s Five Fast Facts on PA’s student debt:
- 🎓 Loan & Groan - Student loan debt makes up the largest piece of American household debt after mortgages…and it’s on the rise. By the end of March this year, total outstanding student loan debt hit a staggering $1.66 trillion. Big yikes.
- 💰 Bank Breaker - According to WalletHub’s research, Pennsylvania came in at number three for states with the most student loan debt. PA has the third-highest average student loan debt amount (over $39,000). The average PA resident with student loan debt owes 44% of the state’s median income, the sixth highest nationwide.
- 🎒 Getting Schooled - Not everyone goes into debt when they head to college, but a whole lot do. In Pennsylvania, 64% of students carry student loans, the fourth highest percentage in the country. PA also lacks a state ombudsman law. These laws create positions to help those with loans get their complaints resolved.
- 🚨 Top Spot - Which state is the worst offender? Mississippi. There, the average amount owed by those with student loan debt is around 56% of the state’s median income. They also have the 14th highest default rate in the country, the fourth-worst job availability for students, and they do not have an ombudsman law.
- 📉 Smoother Sailing - Which states have the least student loan debt? Washington, New Mexico, California, Utah, and Hawaii. No sugar daddies needed there! Unless that’s your thing…(no shade).
🔥Bottom line: Student loan debt continues to be a major burden on American paychecks. You know what else drags everything down? High childcare costs. However, New Mexico is making big moves that could change the game for the rest of us. Find out all about it here!
Got a ton of student debt?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
