Normally when a survey is conducted South Dakota fares pretty well - but not in this case. South Dakota has been named the #1 state when it comes to student debt.

According to a survey done by the personal finance website WalletHub, South Dakota is ranked as the state with the most student debt. Utah did the best.

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.

The data took into account everything from average student debt to unemployment rate among those ages 25-34 to share of students with past-due loan balances.

Here's how South Dakota fared:

  • 7th – Average Student Debt
  • 2nd – Proportion of Students with Debt
  • 18th – Student Debt as percentage of Income (Adjusted for Cost of Living)
  • 17th – Unemployment Rate of Population Aged 25 to 34
  • 25th – Percentage of Student Loans Past Due or in Default
  • 4th – Percentage of Student-Loan Borrowers Aged 50+
  • 11th – Grant Growth

As for the states around us, here's how they scored overall:

  • Minnesota - #8
  • Iowa - #9
  • Montana - #18
  • Nebraska - #25
  • North Dakota - #32
  • Wyoming - #49

To see the full report, go to the WalletHub website.

Source: WalletHub


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