5 States With Highest Levels of Student Debt

July 7, 2014

Student loan debt has been shown to have a direct impact on the ability for first-time home owners to enter the market. Using data from the report, “Student Debt and the Class of 2012” published by The Institute for College Access and Success, 24/7 Wall St. identified the states where this problem is most acute.

According to a survey by the National Association of REALTORS®, student loans were an obstacle to homeownership for 77 percent of respondents. Here are the five states where students graduated with the highest levels of student loan debt on average:

  1. Delaware

    • Class of 2012 average debt: $33,649
    • Class of 2012 percentage with debt: 56% (19th lowest)
    • Median earnings with bachelor’s degree: $49,550 (15th highest)
    • Average total debt: $71,294 (12th highest)
  2. New Hampshire

    • Class of 2012 average debt: $32,698
    • Class of 2012 percentage with debt: 74% (2nd highest)
    • Median earnings with bachelor’s degree: $50,525 (13th highest)
      Average total debt: $53,818 (15th lowest)
  3. Pennsylvania

    • Class of 2012 average debt: $31,675
    • Class of 2012 percentage with debt: 70% (tied-4th highest)
    • Median earnings with bachelor’s degree: $48,200 (17th highest)
    • Average total debt: $58,026 (22nd lowest)
  4. Minnesota

    • Class of 2012 average debt: $31,497
    • Class of 2012 percentage with debt: 70% (tied-4th highest)
    • Median earnings with bachelor’s degree: $50,065 (14th highest)
    • Average total debt: $66,595 (16th highest)
  5. Rhode Island

    • Class of 2012 average debt: $31,156
    • Class of 2012 percentage with debt: 69% (tied-6th highest)
    • Median earnings with bachelor’s degree: $52,221 (8th highest)
    • Average total debt: $65,161 (19th highest)

Source: "Ten States With the Most Student Debt," 24/7 Wall St. (July 2, 2014)