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WalletHub: New Jersey is 2024’s 8th state with the most student debt

NEW JERSEY – New Jersey is 2024’s 8th state with the most student debt, according to a study done by WalletHub.

With student loan debt surpassing $1.6 trillion nationally, the personal-finance website WalletHub Wednesday released its report on the States with the Most and Least Student Debt in 2024 to see where borrowers are in the most financial trouble.

WalletHub compared the 50 states and the District of Columbia across 12 key metrics. The data set ranges from the average student loan balance to the unemployment rate among 25- to 34-year-olds to the share of students with past-due loan balances.

Student Debt in New Jersey (1=Most; 25=Avg.): 

  • Overall Rank: 8th
  • 6th – Avg. Student Debt
  • 8th – Proportion of Students with Debt
  • 13th – Unemployment Rate of Population Aged 25 to 34
  • 6th – % of Student Loans Past Due or in Default
  • 15th – Availability of Student Jobs

Source: WalletHub

Here are the top 5 states with the most student debt:

  1. Mississippi
  2. Pennsylvania
  3. Delaware
  4. West Virginia
  5. South Carolina
Here are the top 5 states with the least student debt:
  1. Utah
  2. Hawaii
  3. Washington
  4. California
  5. New Mexico

For the full report, click here.

Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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