Where Does Iowa Rank On Student Loan Debt?

Student debt has been a hot topic in the news as of late. Americans across the country are waiting to see whether president Biden will go through with paying off up to $10,000 of student debt per borrower. Whether you're for or against that isn't the point of this article but I was curious where Iowa as a state ranked in student loan debt. It turns out, not too great.

It's no secret student loan debt has turned into a massive problem in the United States. According to Wallet Hub, student loans are one of the biggest debts per household in America. They reported the average debt for 43.4 million borrowers is about $37,000.

Wallet Hub researched all 50 states plus the District of Columbia using 11 measures of "indebtedness" and what each state's earning opportunities were. They used student debt to the unemployment rate for individuals ages 25-34 and past-due loan balances and things aren't terrible but not exactly good here in Iowa.

Iowa as a whole ranks 16 out of 51 for student loan debt. A ranking of 1 in this study would mean the most debt, according to Wallet Hub. Out of the 50 states and 1 District of Columbia, Iowa is the number 12 state of "indebtedness" which really plays a big factor in Iowa being one of the higher student loan debt states in America.

Iowa also is one of the worst states when it comes to homeownership for people ages 25-34. Where Iowa does have a big positive is the Grant & Student Work Opportunities, as there are only 13 states with a better score in that category.

The worst state when it comes to student loan debt is West Virginia and the best state is Utah.

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