ATLANTA — Reports suggest that student debt in the United States is a crippling problem for young people graduating - and a new study shows that Atlanta borrowers are some of the hardest-hit.
A new analysis by Lending Tree shows that Atlanta is No. 2 on the list of metro cities with the most student debt in 2019. According to the group, Atlanta student loan borrowers reported a median balance of $28,706.
Atlanta comes second to borrowers in Washington, D.C., who average roughly $29,000. Fifteen percent of those borrowers, however, owe more than $100,000.
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McAllen, Texas reported the lowest median debt, according to Lending Tree, averaging just $13,641.
Here's the full list:
10 Metros With The Most Student Loan Debt in 2019:
- Washington, D.C.
- Atlanta
- Charleston, S.C.
- Akron, Ohio
- Columbia, S.C
- Raleigh, N.C.
- Toledo, Ohio
- Augusta, Ga.
- Birmingham
- New Orleans
Student loan debt in 2019 US is at its highest levels ever for the US, according to a report by Forbes.
Data shows that there are more than 44 million borrowers who owe $1.5 trillion in student loan debt. It's now measured to be the second-highest consumer debt category behind mortgage debt, and larger than both credit card and auto loans.
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According to NerdWallet, nearly 65 percent of college graduates in 2017 had debt that averaged $28,000.
Debt.org says the soaring cost of college slowed some in 2017, but the need for student loans to cover college costs has not. The organization says tuition at a public university in America has risen from $2,119 to $9,410 since 1980. In the same time, private college tuition is up from $9,500 to $32,410 in 2017.