Washington State Top Ten In Managing Student Loan Debt – Dave’s Diary

The high cost of college is catching up with a lot of people and default on loans is all too common.

Utah is the best and Rhode Island is the worst state in the country when it comes to student loan debt according to WalletHub’s in-depth analysis found in  2014’s Best and Worst States for Student Debt. Washington state is doing better than average at 6^th place.Nearly 11 percent of all student loans are in delinquency or default and student loans continuing to be the largest non-housing debt for Americans.  In order to highlight states with lower student debt levels, stronger economies and higher incomes and call attention to those requiring improved focus on their student debt problems, WalletHub analyzed the 50 states and the District of Columbia across seven key metrics. Among these metrics are average student debt, unemployment rate and percentage of students in past-due or default status.

Student Debt in Washington (1=Best; 25=Avg.)

• 14^th – Average Student Debt
• 15^th – Proportion of Students with Debt
• 14^th – Student Debt as a Percentage of COL-Adjusted Income
• 19^th – Unemployment Rate for People Aged 25 to 34
• 15^th – % of Student Loan Borrowers in Past-Due or Default Status
• 18^th – % of Student Loan in Past-Due or Default Status
• 19^th – % of Student Loan Borrowers Aged 50+