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