Ashtabula, Ohio, has the highest student loan debt relative to its residents’ incomes of any U.S. city, according to a May 13 ranking from personal finance website WalletHub.
Because student loan debt is less sustainable in some places than others, WalletHub determined where borrowers are burdened the most by comparing median student loan balances against the median earnings of residents ages 25 and older with a bachelor’s degree across 2,520 cities.
The median student loan balance was based on TransUnion data from October.
The ranking comes as the Education Department finalized a rule to cap student loans and classify nursing and physician associate degrees as graduate instead of professional degrees. Those classified as graduate programs have a lower loan cap of $20,500 annually, effective July 1.
Here are the cities with the most and least student debt, along with their ratio of student debt to median earnings of bachelor’s degree holders, according to WalletHub:
10 most
1. Ashtabula, Ohio — 78.08%
2. Orangeburg, S.C. — 74.35%
3. Loma Linda, Calif. — 73.87%
4. Laguna Woods, Calif. — 71.83%
5. Rolla, Mo. — 68.06%
6. Ashland, Ore. — 66.36%
7. Murrells Inlet, S.C. — 66.08%
8. Lafayette, Ind. — 66.07%
9. Milledgeville, Ga. — 65.90%
10. Sun City, Ariz. — 65.08%
10 least
1. Menlo Park, Calif. — 17.64%
2. Pleasanton, Calif. — 17.51%
3. Lafayette, Calif. — 17.47%
4. Weslaco, Texas — 17.44%
5. Westfield, N.J. — 17.37%
6. Magna, Utah — 17.29%
7. Livermore, Calif. — 17.25%
8. Aptos, Calif. — 17.25%
9. Morgan Hill, Calif. — 17.12%
10. San Fernando, Calif. — 17.12%
Read the full ranking here.
