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Student Loan Debt by Metro Region
July 13, 2020 - Written by wariye sakariye

Student Loan Debt by Metro Region

Unsurprisingly, most of the U.S. Metro areas with a high quantities of education loan financial obligation are house to 1 or even more universities. In 2019, the Durham, vermont, metro area had the best typical education loan financial obligation of $47,955. Corvallis, Oregon, arrived in 2nd with $46,164, while Ann Arbor, Michigan, trailed closely behind with $45,668. Santa Cruz-Watsonville, California, rated 4th with $45,396, and Gainesville, Florida, rounded out of the top five with $44,508 in normal education loan financial obligation.

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Average Student Loan Debt by Metro region
Rank Metro region 2018 2019 percent Change
1 Durham, NC $43,614 $47,955 10.0%
2 Corvalis, OR $42,976 $46,164 7.4percent
3 Ann Arbor, MI $43,182 $45,668 5.8percent
4 Santa Cruz-Watsonville, CA $43,599 $45,396 4.1per cent
5 Gainesville, FL $40,221 $44,508 10.7per cent
6 Santa Barbara-Santa Maria-Goleta, CA $40,424 $44,294 9.6%
7 Washington-Arlington-Alexandria, DC-VA-MD-WV $41,502 $43,797 5.5per cent
8 San Francisco-Oakland-Fremont, CA $41,193 $43,674 6.0per cent
9 Atlanta-Sandy Springs-Marietta, GA $40,215 $43,290 7.6%
10 Charlottesville, VA $39,754 $42,476 6.8%
11 Montgomery, AL $39,533 $42,347 7.1%
12 Iowa City, IA $39,165 $41,727 6.5%
13 Savannah, GA $36,582 $41,583 13.7per cent
14 Jackson, MS $38,670 $41,453 7.2per cent
15 Tuscaloosa, AL $39,014 $40,804 4.6%
16 Columbia, SC $38,766 $40,778 5.2percent
17 Tallahassee, FL $38,458 $40,504 5.3%
18 Rochester, MN $39,227 $40,449 3.1per cent
19 Santa Fe, NM $36,764 $40,447 10.0percent
20 Morgantown, WV $39,803 $40,430 1.6%
21 Columbia, MO $37,145 $40,146 8.1%
22 Charleston-North Charleston, SC $37,329 $40,106 7.4per cent
23 Jackson, TN $37,216 $40,103 7.8%
24 Albany, GA $36,085 $39,935 10.7%
25 Boulder, CO $37,171 $39,842 7.2percent
26 brand New Orleans-Metairie-Kenner, LA $36,695 $39,825 8.5%
27 brand brand New New that is york-Northern Jersey-Long, NY-NJ-PA $37,763 $39,707 5.1per cent
28 Macon, GA $37,020 $39,631 7.1%
29 Baltimore-Towson, MD $37,421 $39,478 5.5%
30 Winston-Salem, NC $37,919 $39,234 3.5percent
31 Ithaca, NY $36,372 $39,192 7.8%
32 Los Angeles-Long Beach-Santa Ana, CA $36,728 $39,181 6.7%
33 Bridgeport-Stamford-Norwalk, CT $37,014 $39,064 5.5per cent
34 Miami-Fort Lauderdale-Pompano Beach, FL $35,868 $39,059 8.9%
35 Athens-Clark County, GA $37,072 $38,854 4.8percent
36 Chicago-Naperville-Joliet, IL-IN-WI $36,540 $38,751 6.1%
37 Columbus, GA-AL $35,552 $38,740 9.0percent
38 Greenville, NC $36,302 $38,694 6.6per cent
39 Memphis, TN-AR-MS $35,955 $38,469 7.0percent
40 Huntsville, AL $35,904 $38,215 6.4per cent
41 Birmingham-Hoover, AL $36,109 $38,120 5.6%
42 Lexington-Fayette, KY $35,080 $38,039 8.4%
43 Charlotte-Gastonia-Concord, NC-SC $35,724 $37,961 6.3per cent
44 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD $35,538 $37,954 6.8%
45 San Diego-Carlsbad-San Marcos, CA $35,571 $37,943 6.7%
46 Hattiesburg, MS $35,546 $37,866 6.5per cent
47 Raleigh-Cary, NC $35,521 $37,854 6.6percent
48 Auburn-Opelika, AL $37,369 $37,828 1.2per cent
49 Portland-Vancouver-Beaverton, OR-WA $35,813 $37,818 5.6per cent
50 Trenton-Ewing, NJ $36,998 $37,719 1.9per cent
51 Detroit-Warren-Livonia, MI $35,404 $37,700 6.5per cent
52 Lansing-East Lansing, MI $35,615 $37,686 5.8percent
53 Denver-Aurora, CO $35,505 $37,672 6.1per cent
54 Augusta-Richmond County, GA-SC $34,611 $37,636 8.7percent
55 Boston-Cambridge-Quincy, MA-NH $36,015 $37,565 4.3percent
56 Richmond, VA $35,575 $37,550 5.6per cent
57 Sacramento-Arden-Arcade-Roseville, CA $35,205 $37,422 6.3percent
58 San Luis Obispo-Paso Robles, CA $34,697 $37,381 7.7%
59 Olympia, WA $35,148 $37,292 6.1per cent
60 Cleveland-Elyria-Mentor, OH $34,971 $37,224 6.4%
61 Medford, OR $36,877 $37,191 0.9%
62 Tampa-St. Petersburg-Clearwater, FL $34,458 $37,173 7.9%
63 Sarasota-Bradenton-Venice, FL $33,720 $37,050 9.9%
64 Dover, DE $33,158 $36,948 11.4%
65 Columbus, OH $34,874 $36,932 5.9percent
66 Burlington-South Burlington, VT $34,101 $36,918 8.3percent
67 Eugene-Springfield, OR $34,259 $36,916 7.8percent
68 Nashville-Davidson-Murfreesboro-Franklin, TN $34,750 $36,898 6.2percent
69 Rome, GA $31,704 $36,887 16.3per cent
70 Johnson City, TN $35,292 $36,858 4.4percent
71 Anniston-Oxford, AL $34,982 $36,784 5.2per cent
72 Santa Rosa-Petaluma, CA $36,039 $36,771 2.0per cent
73 Valdosta, GA $35,704 $36,749 2.9percent
74 brand New Haven-Milford, CT $35,356 $36,696 3.8%
75 Minimal Rock-North Minimal Rock-Conway, AR $34,193 $36,652 7.2%
76 Lawrence, KS $34,813 $36,585 5.1percent
77 Greensboro-High Aim, NC $34,225 $36,567 6.8per cent
78 Sebastian-Vero Beach, FL $33,816 $36,522 8.0%
79 Florence, SC $34,935 $36,516 4.5percent
80 Akron, OH $34,850 $36,509 4.8percent
81 Monroe, LA $32,932 $36,493 10.8%
82 Pocatello, ID $35,613 $36,396 2.2percent
83 San Jose-Sunnyvale-Santa Clara, CA $34,907 $36,343 4.1%
84 Naples-Marco Island, FL $34,709 $36,334 4.7per cent
85 Niles-Benton Harbor, MI $32,382 $36,328 12.2percent
86 St. George, UT $33,757 $36,296 7.5percent
87 Orlando-Kissimmee, FL $33,233 $36,105 8.6per cent
88 Seattle-Tacoma-Bellevue, WA $33,672 $36,086 7.2percent
89 Ocean City, NJ $33,766 $35,827 6.1per cent
90 Sumter, SC $32,712 $35,812 9.5percent
91 Oxnard-Thousand Oaks-Ventura, CA $32,538 $35,727 9.8percent
92 Warner Robins, GA $33,053 $35,712 8.0per cent
93 Hartford-West Hartford-East Hartford, CT $33,740 $35,626 5.6%
94 Indianapolis-Carmel, IN $33,663 $35,607 5.8%
95 Springfield, IL $32,873 $35,583 8.2per cent
96 Dothan, AL $31,438 $35,543 13.1per cent
97 Toledo, OH $34,032 $35,537 4.4%
98 Cellphone, AL $33,530 $35,530 6.0per cent
99 Pittsburgh, PA $33,511 $35,482 5.9per cent
100 Poughkeepsie-Newburgh-Middletown, NY $33,399 $35,446 6.1%

Note: information is for Q1 of every year
Source: Experian

Education Loan Debt Delinquencies

With additional student education loans into the U.S. Than in the past, the very good news is borrowers appear to be on course when coming up with their monthly obligations. Simply 4.76% of all student education loans had been delinquent at the time of Q1 2019.

In past times 3 years, the full total amount of delinquent loans has shrunk by 6%. For loans which were 30 to 59 times overdue, delinquency rates reduced by 46per cent. For loans 60 to ninety days overdue, delinquency prices shrank by 47per cent. The delinquencies that are only would not show extreme indications of changing had been loans 90 or higher times overdue, which took place by simply 3%.

How exactly to Handle Your Student Education Loans

Figuratively speaking are a kind of installment loan, and any missed or belated re payments may have an impact that is serious your credit ratings. Re re re Payment history is the most essential element of your FICO ® Score *, and also one late or missed payment can cause your rating to drop.

When you yourself have figuratively speaking and tend to be fighting payment, a few choices could possibly assist you to. Should your loans were released by the government, maybe you are in a position to adjust your payment centered on that which you can pay for, and also you may additionally manage to combine the debt. Loans given by personal banking institutions frequently have different alternatives, therefore consult your lender to find out more.

Methodology: The analysis outcomes supplied are derived from a statistically that is experian-created aggregate sampling of our credit rating database from Q1 2019, which could consist of utilization of the FICO ® Score 8 variation. Various sampling parameters may produce various findings weighed against other analyses that are similar. Analyzed credit information failed to include identification information that is personal. “Metro areas” team counties and urban centers into particular geographical areas for populace censuses and compilations of relevant analytical information.

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