Student loan debt is a problem for Americans nationwide, but a recent report by the Federal Reserve Bank of Kansas City shows that residents of 11 states have it worse than anyone else.
The average student loan debt per borrower for each of these states is more than $25,000. The report names the cost of in-state tuition and state-based financial aid as reasons why residents in these 11 states are struggling to pay back their student loans more than their peers. High cost of living rates could also account for high student loan debt, as almost half of the states listed as having the most student loan debt per person are also ranked in the top 10 most expensive states to live in.
See if your state did (or, hopefully didn’t) make the list.
Alabama
California
Florida
Georgia
Illinois
Maryland
Massachusetts
New Jersey
New York
Pennsylvania
Virginia
