MIAMI—New Hampshire residents have the highest student loan payments in the nation, with an average monthly payment of $229, a new study shows.
With the median monthly payment on student loans ranging from $142 to $229, depending on the state, the personal finance website WalletHub has released its report on the States With the Highest Student Loan Payments.
Around 42.2 million Americans owe a collective $1.61 trillion in student loans. That comes out to an average of over $38,000 of debt for each borrower, WalletHub said.
Residents of some states have to make much larger student loan payments than others. In order to determine the states with the most and least costly payments, WalletHub analyzed the latest consumer data and compared the median student loan payment amounts across the 50 states.
Following New Hampshire, Massachusetts ($226) and Vermont ($223) were the next highest states. Mississippi ($142) and Arkansas ($142) have the lowest average monthly payments.