CLARKSBURG, West Virginia (WBOY) — Student loans have become a hotly debated topic in America, and West Virginia may be one of the states suffering the most.
To find out where student loans are worst, WalletHub compared 50 states and the District of Columbia It is determined based on various relevant factors.
According to a study by WalletHub, West Virginia has the 4th highest student loan burden in the nation, behind Mississippi, Delaware and #1 Pennsylvania.
Student Debt by State
| Overall Rank* | state | total score | student loan debt | Grants and Student Employment Opportunities |
|---|---|---|---|---|
| 1 | Pennsylvania | 62.96 | 1 | 12 |
| 2 | Delaware | 62.64 | 2 | Five |
| 3 | Mississippi | 61.59 | 3 | 3 |
| Four | west virginia | 58.44 | Five | 2 |
Except for “Total Score”, all columns in the table above represent the relative rank of that state, with rank 1 representing the worst state for that metric category.
The study found West Virginia to have the third highest student debt to income ratio (cost-of-living adjusted), the third highest unemployment rate among 25-34 year olds, and the third highest percentage of students in debt. was also found to be high. ” with North Dakota.
To achieve its findings, WalletHub compared across 12 weighted metrics divided into two main dimensions: student loan debt and subsidies and student employment opportunities. Each metric was evaluated on a scale of 100 points to determine an overall score and ranking for each location.
Student Loan Debt – Total Points: 85
- Average Student Debt: Full (~8.50 points)
- Percentage of students with debt: 3x weight (~25.50 points)
- Student Debt as a Percentage of Income: Double Weighted (~17.00 points)
Note: This metric was calculated by dividing total state-level student debt per borrower by median household income (adjusted for cost of living). - Percentage of student loans in overdue or default status: full weighted (~8.50 points)
- Percentage of federal student loan borrowers enrolled in an income-driven repayment plan: full weighted (~8.50 points)
- Percentage of student loan borrowers over 50: double weight (~17.00 points)
Grants and Student Employment Opportunities – Total Points: 15
- Unemployment rate for population aged 25-34: double weight (~4.29 points)
- Underemployment rate: full weight (~2.14 points)
- Student Jobs: Full Weight (~2.14 points)
Note: This indicator measures student employment for the entire workforce aged 16-24. - Paid internship availability: full weighted (~2.14 points)
Note: This metric measures paid internship listings for the total working population aged 16-24. - Subsidy increase: full weight (~2.14 points)
Note: This metric measures the rate of change (2021 and 2020) in state and local government grants per undergraduate student within the district and within the state. - Presence of “Student Loan Ombudsman” Act: Overall Focus (~2.14 points)
Note: This dichotomous metric measures whether a state has enacted a student loan ombudsman law.
