REPORT: Indiana Ranks 10th For Most Student Loan Debt

Thursday, August 2, 2018 at 11:02 AM

Debt also looms large in Kentucky and Ohio.

(Undated) – Education is an important part of life, but at what cost.

Personal finance website WalletHub released its 2018 States with the Most and Least Student Debt report on Wednesday

At the end of the first quarter of 2018, total outstanding college-loan balances disclosed on credit reports stood at $1.41 trillion, according to the Federal Reserve Bank of New York.

To determine the states that are friendliest toward student-loan debtors, WalletHub compared all 50 states and the District of Columbia across 11 key metrics, including average student debt, proportion of students with debt and availability of student jobs.

Indiana ranked 10th nationally for highest overall student debt. According to the report, Indiana received poor marks for the amount of student debt as percentage of income, percentage of student loans past due or in default, and availability of paid internships.

Kentucky ranked one spot behind Indiana at 11th overall. The Commonwealth found itself in the top 5 for highest student debt as a percentage of income, highest unemployment for people aged 25 to 34, and highest percentage of student-loan balances past due or in default.

Ohio ranked higher than both states as the 5th worst state for student-loan indebtedness. Only students in South Dakota, West Virginia, Pennsylvania and New Hampshire have more student loan debt.

To read the full report, visit www.wallethub.com.