Student Debt For Lakeville Residents: How It Compares Across U.S.

Lakeville MN

11 May, 2022

12:55 PM

Description

LAKEVILLE, MN — Americans have a total of $1.61 trillion in student debt, which comes out to $37,000 per borrower. Wallethub recently conducted a study to determine where borrowers are burdened the most, and the least, across the United States. The data and information website compared the median student-loan balance against the median earnings of adults aged 25 and older with a bachelor's degree in more than 2,510 U.S. cities, including dozens in Minnesota. In Lakeville, the average resident has $20,869 worth of student loan debt. The median earnings of a person with a bachelor's degree in the city is $73,128. Here's how Richfield stacks up against other cities in Minnesota: The U.S. city with the worst debt-to-salary ratio is Ypsilanti, Michigan. The average resident of Ypsilanti has $29,342 worth of student loan debt, and the average salary is $35,080. Check out the entire WalletHub study here.