Cities with the most, least student loan debt in 2022: report

FOX Business Flash top headlines for May 12

Check out what’s clicking on FoxBusiness.com.

Student loan debt in the U.S. has reached a record of $1.61 trillion, but some places in the country are struggling more with the burden than others, according to a new report. 

On Tuesday, WalletHub published a report on the U.S. cities with the most and least student debt. 

For its report, WalletHub looked at more than 2,150 U.S. cities and used TransUnion data to find the median student loan balance in those cities. 

BIDEN’S STUDENT LOAN FORGIVENESS PLAN: EVERYTHING WE KNOW SO FAR

WalletHub then divided that number by the median earnings of adults aged 25 and older with a bachelor’s degree, according to the report’s methodology. 

WalletHub then found the cities where student loan debts are more unsustainable by ranking the cities based on the ratio of student debt to median earnings. 

BIDEN’S STUDENT LOAN FORGIVENESS PLAN: BREAKING DOWN THE COST

To see the overall results, here are the cities with the most and least student loan debt, according to WalletHub. 

Cities with the most student loan debt

Selma, Alabama, was found to have the highest ratio of student debt to median earnings of bachelor’s degree holders, according to WalletHub. The Edmund Pettus Bridge in Selma is pictured. (iStock)

1. Selma, Alabama

Ratio of student debt to median earnings of bachelor’s degree holders: 84.33%

2. Ypsilanti, Michigan

Ratio of student debt to median earnings of bachelor’s degree holders: 83.64%

3. Avon Park, Florida

Ratio of student debt to median earnings of bachelor’s degree holders: 83.14%

4. Cordele, Georgia

Ratio of student debt to median earnings of bachelor’s degree holders: 81.85% 

5. Ridgeland, Mississippi

Ratio of student debt to median earnings of bachelor’s degree holders: 81.53%

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Cities with the least student loan debt

Coachella, California, was found to have the lowest ratio of student debt to median earnings of bachelor’s degree holders, according to WalletHub. (iStock / iStock)

1. Coachella, California

Ratio of student debt to median earnings of bachelor’s degree holders: 12.66%

2. Sunnyvale, California

Ratio of student debt to median earnings of bachelor’s degree holders: 16.13%

3. Bronxville, New York

Ratio of student debt to median earnings of bachelor’s degree holders: 17.43%

4. Delano, California

Ratio of student debt to median earnings of bachelor’s degree holders: 17.83%

5. Gilroy, California

Ratio of student debt to median earnings of bachelor’s degree holders: 17.91%

CLICK HERE TO READ MORE ON FOX BUSINESS

Source: Read Full Article