Anyone who’s ever had to pay off a student loan(or is in the process of paying one off right now) knows what kind of albatross around the neck that is to have. Even with a student loan forgiveness program, it can sometimes seem like an eternal struggle.
That’s one of the reasons why I felt the results of this particular study to be very surprising but great news nonetheless! The study was conducted by Broke Scholar, one of the largest free scholarship search engines on the world wide web.
Using all sorts of data factors such as the average student loan debt in every state, delinquency rates, etc., Broke Scholar put together a list of the best and worst states for paying off student loans.
How did Massachusetts perform in the study? I’M SO GLAD YOU ASKED THAT QUESTION! It turns out that the Bay State ranks as the #1 best state for paying back student loans! Give yourself a hand Massachusetts!
I know, I know, it’s hard to believe, but Massachusetts is the BEST state for student loan borrowers. Broke Scholar had this to say:
Though graduates walk across the stage with average debt, both starting and mid-career salaries are high, making for some of the country’s lowest delinquency rates.
According to Broke Scholar’s study, Massachusetts performed so well in different factors(Student Borrower Profile, Salary and Cost of Living, and Job Growth and Unemployment Rate) that it ended up with a final score of 10, the only state to do so.
Here are the 5 best states for paying off student loans according to Broke Scholars’ States of Student Loans study:
- Massachusetts
- South Dakota
- Colorado
- Minnesota
- Texas
For more on this very informative study including the 5 worst states for paying off student loans, please visit Broke Scholars’ website here.
And speaking of things of a financial nature, keep reading…
