This map shows average student debt balances for 2020 graduates by state

Personal finance

Student debt balances among 2020 graduates remained at an all-time high.

Last year’s borrowing graduates in New Hampshire, Pennsylvania and Delaware owed close to $40,000 for their bachelor’s degree, on average, according to a report by the Institute for College Access and Success.

More from Personal Finance:
How to shop early and still get the best deals
Thanksgiving dinner is more expensive this year
How to limit the bite inflation is taking from your budget

Average debt at graduation among undergraduate borrowers was higher than $30,000 in 19 states, and more than $35,000 in six states.

Nearly 75% of 2020 college graduates had student debt in South Dakota. More than 60% were in the red in West Virginia, Pennsylvania, Minnesota and many other states.

Federal student loan balances tell only part of the story. More students are taking out private students loans, too.

Graduates last year who borrowed private student loans in Washington, D.C., had an average balance of $51,750, the researchers at TICAS found. The average private student loan balance was more than $40,000 for graduates in New York, Vermont and Massachusetts.

“[The debt borrowers hold continues to make their lives financially perilous,” said Sameer Gadkaree, president of TICAS.

Products You May Like

Articles You May Like

Warren Buffett explains his $750 million charitable donation on Thanksgiving eve
First accounting firm with HQ in metaverse is sued over FTX meltdown
Trump’s civil fraud trial in NY is set to start in October 2023
Why Pinduoduo Shares Are Surging
How Congress may make it easier to set money aside for emergency expenses

Leave a Reply

Your email address will not be published. Required fields are marked *