WESTCHESTER COUNTY, N.Y. -- With the cost of higher education continuing to rise, the ability to pay for a college degree continues to be a growing issue. According to WalletHub, New York is among the worst states in the country when it comes to student loan debt.
New York ranked 45th out of 51 states, plus Washington, D.C.
WalletHub pulled data in seven metrics:
- Average student loan debt
- Proportion of students with debt
- Student debt as a percentage of income
- Unemployment rate for ages 25-34
- Percentage of student loans in default or past due status
- Percentage of borrowers in past due or default status
- Percentage of borrowers aged 50 years and up
When all the data was processed, weighted and ranked, only South Carolina, Georgia, Maine, Connecticut, Rhode Island and Mississippi fared worse than the Empire State.
Massachusetts and New Jersey ranked 22nd and 30th, respectively.
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