Study: Ohio leads nation in student debt

Written on Aug 10, 2017

A new report reveals that Ohio leads the U.S. for the most student debt among all 50 states and the District of Columbia.

The rankings, produced by WalletHub, are based on 10 key metrics, ranging from “average student debt to unemployment rate among the population aged 25 to 34 to share of students with past-due loan balances.”

Ohio was also ranked third for “Student-Loan Indebtedness” and 20th for “Grant and Student Work Opportunities.” However, Ohio was not ranked in the top five highest states for any of WalletHub’s subcategories, with the Buckeye State’s placement ranging from the top 10 to the middle of the pack.

The subcategories and Ohio’s ranks included:

  • Proportion of students with debt: 8th
  • Borrowers ages 50 or older: 11th
  • Student loan balances past due or in default: 13th
  • Unemployment rate for 25- to 34-year-olds: 13th
  • Student debt as a share of income: 17th
  • Available student jobs adjusted for population: 23rd
  • Underemployment rate: 26th
  • Paid internship internships adjusted for population: 31st

Ranks for Ohio’s neighbors in the highest debt amount overall rankings included Pennsylvania, third; West Virginia, fourth; Michigan, seventh; Indiana, 10th; and Kentucky, 20th. Rounding out the top five were Mississippi in second and New Hampshire in fifth.

The five states with the lowest amounts of student debt were Nevada, California, Wyoming, Utah and Hawaii.

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