PROVIDENCE – Rhode Island was ranked No. 19 in the United States for student loan debt, according to a recent report by WalletHub.
The personal finance website with a focus on reviews for financial advisers analyzed student loan indebtedness and grant and student work opportunities across the 50 states and the District of Columbia using 12 metrics: average student debt; proportion of students with debt; student debt as share of income; share of student loans in past-due or default status; share of federal student loan borrowers enrolled in income-driven repayment plan; share of student loan borrowers aged 50 years and older; unemployment rate among population aged 25-34; underemployment rate; availability of student jobs; availability of paid internships; grant growth; and presence of student loan ombudsmen law.
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Rhode Island ranked No. 8 overall for student loan indebtedness and No. 51 for grant and student work opportunities for an overall score of 48.55. According to the report, a rank of 1 in student loan indebtedness or grant and student work opportunities represents the worst conditions for that metric category, meaning Rhode Island exhibits the best conditions for grant and student work opportunities in the nation.
Pennsylvania had the most student loan debt, according to the study. The Keystone State ranked No. 1 for student loan indebtedness and No. 12 for grant and student work opportunities. Delaware, followed by Mississippi, West Virginia and South Dakota rounded out the five states with the highest student loan debt.
Utah had the least student loan debt in the nation, according to the study. That state ranked No. 51 for student loan indebtedness and No. 18 for grant and student work opportunities. Hawaii followed by New Mexico, Wyoming and California rounded out the five states with the lowest student loan debt.
Massachusetts had the lowest student loan debt in New England, according to the report. The Bay State ranked No. 37 for student loan indebtedness and No. 48 for grant and student work opportunities for an overall score of 37.74. Across the rest of New England, Maine ranked No. 32, Vermont ranked No. 31, Connecticut ranked No. 12 and New Hampshire ranked No. 7.
