South Carolina Student Debt Ranks In The Top 5 Highest Nationwide

Student debt is a hot topic in America these days. One I will spare you my opinion on. What should be done about the issue is debatable. But what is not debatable is the percentage of household debt made up by student loans. And this is especially true here- South Carolina student debt was found to be the 5th highest nationwide.

This is according to a new study by our friends at WalletHub. They recently "This is according to a new study by our friends at WalletHub. They recently "compared the 50 states and the District of Columbia based on 12 key measures of indebtedness and earning opportunities".

Nationwide student debt continues to grow. WalletHub reports that as of the close of Q2 in 2024 second the US has amassed a total outstanding college loan balance of approximately $1.62 trillion, according to the Department of Education. And you don't need me to tell you that that is a lot of money.

Of the estimated 43 million Americans with student loan debt that comes out to around $38,000 per person. More than many of those 43 million probably make in a year.

Using data sets including metrics on the average student loan balance, unemployment rate for 25- to 34-year-olds, and the share of students with past-due loan balances WalletHub ranked these as the top 5 states with the most student debt.

And based on this data South Carolina student debt doesn't look good. North Carolina came in right in the middle at 24th. So while not great, it could be worse. The five states with the lowest student debt? Utah, Hawaii, Washington, California, and New Mexico.

Thanks to our friends at WalletHub for sharing their research with us. You can read the full study and methodology here.