Columbia, South Carolina
South Carolina students and alumni rank fifth in debt on average, according to a new study.
Research by business research firm AdvisorSmith, uses data on student loans provided by the US Department of Education for 50 states and Washington, DC.
The data shows that South Carolina – home to the Clemson Tigers and the University of South Carolina Gamecocks – is ahead of nearly all southern states, accumulating an average of $ 38,662 in student loans per person, higher than the national average.
Cancellations or cancellations of student loans are increasingly hotly debated in the national political arena, as young professionals are often saddled with debt from higher tuition fees as they try to find labor and affordable housing.
According to the study, nearly 43 million borrowers nationwide have student debt, which is nearly 13% of the country’s population. The average loan debt per student in the country is US $ 37,105.
According to the data, in Washington, DC, students accumulated the most debt on average at $ 55,077, while North Dakota had the lowest average balance at $ 29,446.
The only southern state with more debt than South Carolina was Georgia, which came in third with an average loan size of $ 41,843. North Carolina ranks 10th with an average of $ 37,861 per student.
In terms of the percentage of state residents with the most debt, South Carolina also ranked 10th. An estimated 14% of the state’s population has student debt. Again, in only one southern state – Georgia – there was more, by 15%.
Washington, DC, again topped the list with 16 percent population debt.
Here are the top 10 places in the country with the most student debt:
- District of Columbia – $ 55,077
- Maryland – $ 43,219
- Georgia – $ 41,843.
- Virginia – $ 39,472
- South Carolina – $ 38,662
- Florida – $ 38,481
- Vermont – $ 38,411
- New York – $ 38,107
- Illinois – $ 38,071
- North Carolina – $ 37,861