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Sunday, May 23, 2021 |
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By Selected News Articles @ 3:11 AM :: 4223 Views
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2021’s Cities with the Most & Least Student Debt
Wallet Hub, May 11, 2021
Post-college debts represent one of the biggest financial burdens to Americans. In fact, student loans make up the second highest form of household debt after mortgages, totaling a record $1.7 trillion.
But how burdensome are the individual loans? The average student-loan balance in 2020 was nearly $39,000. High balances combined with a payoff timeline that lasts into middle age force many graduates to significantly delay or forego other financial goals such as saving for retirement or buying a home. Paying back student loans has also become even more difficult during the COVID-19 pandemic, though the government has allowed temporary forbearance on federal student loans.
While we have a big student-loan debt crisis as a country, student-loan debts are more unsustainable in some places than others. To determine where borrowers are burdened the most, WalletHub compared the median student-loan balance against the median earnings of adults aged 25 and older with a bachelor’s degree in more than 2,510 U.S. cities….
read … Full Report
| Percentile Rank* |
City |
Median Student Debt |
Median Earnings of Bachelor’s Degree Holders** |
Ratio of Student Debt to Median Earnings of Bachelor’s Degree Holders** |
| 93 |
Hilo, HI |
$23,702 |
$43,917 |
53.97% |
| 77 |
Ewa Beach, HI |
$20,066 |
$45,161 |
44.43% |
| 73 |
Wailuku, HI |
$22,294 |
$51,798 |
43.04% |
| 63 |
Kailua, HI |
$17,727 |
$44,068 |
40.23% |
| 60 |
Kihei, HI |
$18,739 |
$47,664 |
39.31% |
| 59 |
Honolulu, HI |
$19,603 |
$50,320 |
38.96% |
| 58 |
Waipahu, HI |
$16,214 |
$41,701 |
38.88% |
| 55 |
Lahaina, HI |
$17,820 |
$46,739 |
38.13% |
| 55 |
Mililani Town, HI |
$20,774 |
$54,574 |
38.07% |
| 54 |
Kaneohe, HI |
$21,630 |
$57,160 |
37.84% |
| 53 |
Waianae, HI |
$14,556 |
$38,712 |
37.60% |
| 26 |
Kahului, HI |
$14,194 |
$45,047 |
31.51% |
| 19 |
Kapolei, HI |
$16,686 |
$55,917 |
29.84% |
| 13 |
Wahiawa, HI |
$14,192 |
$50,573 |
28.06% |
| 11 |
Pearl City, HI |
$15,140 |
$55,205 |
27.43% |
| 10 |
Aiea, HI |
$16,123 |
$60,016 |
26.86% |
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