DC area millennials have the highest student loan debt in the US
Biden tries to draw in young voters with student loan cancellation while Trump faces legal battles
Inflation remains high and there is no sign that the Federal Reserve is going to cut rates, which doesn’t bode well for President Joe Biden. The president is trying to draw in younger voters by getting rid of more student loan debt. Meanwhile, former President Donald Trump is dealing with legal issues. On the Hill brings in White House reporter for The Hill Niall Stanage and Bloomberg politics editor Laura Davison to discuss.
WASHINGTON - Millennials who live in Washington D.C. or Maryland have the highest average school debt per person in the U.S.
A study by GOBankingRates used the Education Data Initiative’s Student Debt by Generation 2023 to find each state’s total millennials with student debt and the total outstanding debt held by the generation.
The study found that in Maryland, the average school debt per person was $37,337 – the highest debt of any U.S. state. The total outstanding debt for the entire state was around $10.6 billion.
In D.C., the student debt was even higher – $53,106.21.
"If Washington, D.C. were a state, it would be the clear outlier in terms of student debt," said Andrew Murray, the lead data content researcher at GOBankingRates. "DC's average millennial student debt of more than $53,000 is a whopping $15,000 higher than second-place Maryland and nearly double that of Wyoming, which has the lowest average millennial student debt in the nation. This is likely due to the fact that many high-level government jobs require post-graduate degrees."
Wyoming had the lowest average debt for millennials at $25,683.
READ MORE: These states have the highest student loan debt among millennials