PHILADELPHIA (CBS) – As student loan forgiveness remains a hot topic in the United States, a new study finds Pennsylvania is among the top 10 states with the most student loan debt. Pennsylvania was ranked 6th on the AdvisorSmith rankings. States with the highest student loan debt study.
The study analyzed 50 states plus Washington, DC using data from the US Department of Education. AdvisorSmith has divided student loan debt into two categories: states with the largest student loan balances and states with the most outstanding student loans.
Pennsylvania ranked 20th in terms of student loan balances.
The researchers found that 14% of Pennsylvania’s population has an outstanding federal student loan, and the average commonwealth loan balance is $ 35,804.
According to the study, at the end of June, the average outstanding student loan in the federal student loan portfolio was $ 37,861 per borrower.
Delaware ranked 12th in terms of student loan balances and 30th in terms of most people with student loan debt. New Jersey ranked 21st in terms of student loan balances and 19th in terms of most people with student loan debt.