WalletHub said that at the end of the first quarter of 2022, total outstanding college-loan balances stood at nearly $1.61 trillion, according to the Department of Education. That comes out to an average of $37,000 for each of the 43.4 million borrowers.
Based on key measures surrounding earning opportunities and indebtedness, WalletHub ranked every state.
Overall, Colorado ranks as the 8th state with the least debt.
Here is a look at where Colorado stands, according to WalletHub’s study. The rankings are from one to 51, with one being the most and 50 being the least.
- 37th – Average student debt
- 40th – Proportion of students with debt
- 42nd – Student debt as % of income (adjusted for cost of living)
- 22nd – Unemployment rate of population aged 25 to 34
- 25th – % of student loans past due or in default
- 43rd – Availability of student jobs
- 39th – Availability of paid internships
- 36th – Grant growth
WalletHub said the data ranges from average student debt to unemployment rate among people 25-34 years old to share of students with past-due loan balances.