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Tuesday, May 10, 2022 |
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By Selected News Articles @ 5:40 PM :: 3347 Views
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2022’s Cities with the Most & Least Student Debt
Wallet Hub, May 10, 2022
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 $1.61 trillion. That works out to about $37,000 per borrower.
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 due to the COVID-19 pandemic, though the government allowed temporary forbearance on federal student loans through May 1, 2022.
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** |
| 5 |
Waianae, HI |
$20,711 |
$35,625 |
58.14% |
| 17 |
Hilo, HI |
$21,200 |
$44,061 |
48.12% |
| 18 |
Kahului, HI |
$20,766 |
$43,540 |
47.69% |
| 22 |
Lahaina, HI |
$22,201 |
$47,738 |
46.50% |
| 26 |
Kailua, HI |
$19,661 |
$43,829 |
44.86% |
| 27 |
Kihei, HI |
$22,000 |
$49,562 |
44.39% |
| 31 |
Honolulu, HI |
$22,033 |
$51,233 |
43.01% |
| 37 |
Waipahu, HI |
$16,909 |
$40,794 |
41.45% |
| 44 |
Ewa Beach, HI |
$18,493 |
$46,563 |
39.72% |
| 63 |
Aiea, HI |
$21,589 |
$61,433 |
35.14% |
| 72 |
Kapolei, HI |
$20,103 |
$61,047 |
32.93% |
| 75 |
Pearl City, HI |
$17,837 |
$55,195 |
32.32% |
| 78 |
Wailuku, HI |
$18,071 |
$57,273 |
31.55% |
| 78 |
Kaneohe, HI |
$19,040 |
$60,346 |
31.55% |
| 80 |
Mililani Town, HI |
$16,863 |
$54,355 |
31.02% |
| 99 |
Wahiawa, HI |
$11,965 |
$57,675 |
20.75% |
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