NEW MEXICO (KRQE) – WalletHub just released its study on 2023’s States with the Most and Least Student Debt. The study ranked all 50 states, along with the District of Columbia, and New Mexico ranked in spot No. 49 out of 51 as one of the states with the least amount of student debt.
To determine the ranking, the states were compared using 12 key metrics. Some factors in consideration included the unemployment rate and the share of students with past-due loan balances.
According to WalletHub, the state with the most amount of student debt in 2023 is Pennsylvania, and the state with the least amount of debt is Utah. Next to New Mexico in the ranking is Wyoming, in spot No. 48, and Hawaii, in spot No. 50.
The data that landed New Mexico in spot No. 49 was its ranking in the “average student debt” category, as state No. 50 out of 51, and its ranking in the “proportion of students with debt” category, where New Mexico tied in spot No. 49.
States With the Most Student Debt
- West Virginia
- South Dakota
- New Hampshire
- South Carolina
- New Jersey
In May, WalletHub released a study on the cities with the most student debt. In that ranking, Albuquerque was the city in New Mexico with the highest debt, and Hobbs was the city with the least. To see the full breakdown of New Mexico cities for that study, click here.