DC area millennials have the highest student loan debt in the US
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
