Cities with the most, least student loan debt in 2022: report
WalletHub divided median student loan balance by median earnings of adults with bachelor’s degree in 2,150 cities
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.
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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.
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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%
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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%