WASHINGTON — Even after adjusting for the cost of living, D.C. residents have the highest student loan debt burden in the nation as a proportion of earnings, according to an analysis by WalletHub.com.
But Virginia student loan payers are in much better shape. Virginia borrowers benefit from generally lower college-related debt levels, a stronger economy and higher incomes compared to the other 50 states and D.C., according to WalletHub.
WalletHub looked at average student debt, the unemployment rate for adults ages 25 to 34 and the percentage of borrowers who are behind or have defaulted on their loans, among other factors.
Virginia ranked fourth overall and was the only eastern state in the top 10. Maryland ranked 26th overall, and D.C. ranked 41st when all factors were combined.
Student debt in D.C. as a percentage of income was double that of borrowers in Wyoming, which had the smallest proportion of debt compared to income.