WalletHub has once again confirmed that Â鶹´«Ã½ college graduates are among the least likely to leave school with debt. And for those who do graduate with debt, they owe among the least in the country.
Among the states and territories, Â鶹´«Ã½ enjoys the 2nd lowest percentage of college graduates with any debt and is the 3rd lowest when it comes to student debt as a percentage share of income, according to a report by WalletHub. The personal-finance website released its report on August 25.
“A big reason we are among the very best when it comes to student debt is the affordability of the 10-campus University of Â鶹´«Ã½ public higher education system,” said UH President David Lassner. “Our regents and administration have committed to tough choices as we have frozen and even decreased tuition over these past challenging years. Coupled with our high quality education, UH provides an outstanding return on investment for our students and Â鶹´«Ã½.”
According to , about two-thirds of Â鶹´«Ã½ high school graduates attend a University of Â鶹´«Ã½ campus.
The total outstanding college-loan balances in the United States was at at the end of the second quarter of 2021, according to the U.S. Department of Education. That¡¯s an average of $37,000 for each of the 42.9 million borrowers.
It was not all positive news for Â鶹´«Ã½. The state rose to first in the nation for the highest percentage of student loan balances past due or in default. This was likely due to the devastating impact of the COVID-19 pandemic on Â鶹´«Ã½¡¯s economy, among the hardest hit in the nation, which WalletHub noted has pushed Â鶹´«Ã½ to the third highest average unemployment rate for those aged 25 to 34. In addition, Â鶹´«Ã½ ranked last in state grants and student work opportunities.