2017’s States with the Most and Least Student Debt & MORE!

[adelaster]

This must only be tuition and fees. Not room and board. We live in Massachusetts and both of my children are currently at UMass schools (public) with room and board, etc their bill is about 28K per year, not 12K and change

Yep. If you look at the source material, it clearly states who it surveyed. Most of the schools in MA are private, but I compiled this just for you!

https://docs.google.com/spreadsheets/d/1y2bNQ37D3JL6O092te3XxnpE3jJDJS5CXL6RXoLbnqg/edit?usp=sharing

Living on campus and eating on a meal plan are huge costs that not everyone can afford. I had to commute and work up to three jobs to finish my degree, and I still have debt from the two years I lived on campuses (even though I held jobs at those too). It definitely had a negative impact on my grades, but you have to do what you have to do.

 

[adelaster]

Quick question - does this only take into account STUDENT debt (not parent loans?)

This is what the source material states. My guess is it is student only, at least that is my interpretation of the below.

Methodology
In order to determine the best and worst states for student debt, WalletHub’s analysts compared the 50 states and the District of Columbia across two key dimensions, including “Student-Loan Indebtedness” and “Grant & Student Work Opportunities.”

We evaluated those dimensions using 10 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 being granted to the state with the most student debt.

Finally, we determined each state and the District’s weighted average across all metrics to calculate its total score and used the resulting scores to rank-order our sample.

Student-Loan Indebtedness - Total Points: 85

• Average Student Debt: Full Weight (~9.44 Points)
• Proportion of Students with Debt: Triple Weight (~28.33 Points)
• Student Debt as Share of Income: Double Weight (~18.89 Points)
  Note: This metric was calculated by dividing overall state-level student debt per borrower by median household income (adjusted for cost of living).
• Share of Student Loans in Past-Due or Default Status: Full Weight (~9.44 Points)
• Share of Student-Loan Borrowers Aged 50 & Older: Double Weight (~18.89 Points)
  Note: This metric was adjusted for the population aged 50 and older.

Grant & Student Work Opportunities - Total Points: 15

• Unemployment Rate Among Population Aged 25 to 34: Double Weight (~5.00 Points)
• Underemployment Rate: Full Weight (~2.50 Points)
• Availability of Student Jobs: Full Weight (~2.50 Points)
  Note: This metric measures student jobs per total civilian population aged 16 to 24 in the labor force.
• Availability of Paid Internships: Full Weight (~2.50 Points)
  Note: This metric measures paid internship listings per total civilian population aged 16 to 24 in the labor force.
• Grant Growth: Full Weight (~2.50 Points)
  Note: This metric measures the percentage change (2015 vs. 2014) in state- and local-government grants per in-district and in-state undergraduate student.

Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Institute for College Access & Success, Federal Reserve Bank of New York, Council for Community and Economic Research, U.S. Department of Education College Affordability & Transparency Center, The Withe House, United Health Foundation, Internships.com and Indeed.

 

[adelaster]

Why do you only consider BA degrees? Maybe there's a higher percentage of BS degrees?
Am I missing something?
I am at work right now and can't stop to read the articles. Do you mean any bachelor's degree?

From source material:

24/7 Wall St. ranked each state by the share of adults 25 and older with at least a bachelor’s degree. In the most educated state, 42.7% of adults have a four-year college degree, more than double the share of 20.8% in the least educated state.

To identify America’s most and least educated states, 24/7 Wall St. reviewed the percentages of adults who have completed at least a bachelor’s degree in each state from the U.S. Census Bureau’s 2016 American Community Survey. The percentage of adults who have completed at least high school or its equivalent also come from the 2016 ACS. Median household income, employment by industry, food stamp recipiency, and poverty rates also come from the 2016 ACS. We also reviewed annual average unemployment data from the Bureau of Labor Statistics for 2015 and 2016.

 

[ruadisneyfan2]

From source material:

24/7 Wall St. ranked each state by the share of adults 25 and older with at least a bachelor’s degree. In the most educated state, 42.7% of adults have a four-year college degree, more than double the share of 20.8% in the least educated state.

To identify America’s most and least educated states, 24/7 Wall St. reviewed the percentages of adults who have completed at least a bachelor’s degree in each state from the U.S. Census Bureau’s 2016 American Community Survey. The percentage of adults who have completed at least high school or its equivalent also come from the 2016 ACS. Median household income, employment by industry, food stamp recipiency, and poverty rates also come from the 2016 ACS. We also reviewed annual average unemployment data from the Bureau of Labor Statistics for 2015 and 2016.

Thank you. I was at work when I first commented and intended to go back and fully read it but completely forgot about it.

 

[neatokimmo]

The free community college program doesn't begin until fall semester 2018, at least according to what I have read. And the lottery funds didn't start out as generously as they're being given out now. I can easily see having substantial debt from previous years, and even more so if a person attended a private college or went for an advanced degree.

This is the program I am talking about: http://www.northeaststate.edu//Financial-Aid/External-Scholarships/Tennessee-Promise/ You can knock out two of your four years pretty cheap. I’ve heard of the adult program, but I have my degrees so it isn’t something I have researched.