People in Corvallis carry more student loan debt than residents of any other town in America, save one. Durham, North Carolina residents carry $47,955 on average, and second place Corvallis averages $46,164 per resident. Naturally, it would be college towns that carry the highest student loan debt burdens.
The study was based on data from Experian.
“Student loan debt in the U.S. reached another all-time high of $1.4 trillion in the first quarter of 2019, ” according to a release from Experian. “That’s an increase of 116% in 10 years and represents one of the country’s most significant and widespread financial burdens to date.”
The average debt among Oregonians outside Corvallis was $36,989. Among states with the highest student loan debt, the District of Columbia had the highest average debt of $55,729. Georgia ranked second, with an average student loan balance of $40,692, followed by Maryland at $40,630, New York at $37,753 and California at $37,468.
The credit reporting company also reported 4.76 percent of all student loans were delinquent the first quarter of this year, and that delinquencies had fallen 6 percent in the last 3 years.
By Andy Thompson