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10 states where you have the best chance of paying off your student loans

Kathleen Elkins   

10 states where you have the best chance of paying off your student loans

Red Rock Towers With Sand Patterns At Monument Valley Tribal Park Arizona And Utah Border

Bryce Canyon National Park Utah

Utah is the best state to live in for those who have student debt.

Young professionals with student debt may want to consider moving out west.

That's what personal finance social network WalletHub found in a recent student debt study, revealing that borrowers living in Utah, Wyoming, and North Dakota are doing the best job of paying off their loans.

The site looked at seven metrics across all 50 states to determine which states' residents are best positioned to pay off their loans (read the full methodology on WalletHub), including the average student debt per borrower, the proportion of students with debt, and the unemployment rate of millennials (defined as age 25 to 34).

Here, we've highlighted the 10 states that make it easiest for residents to pay off student debt. 

For reference, compare the state-specific data to these national statistics:

  • Average student debt per borrower: $28,400
  • Percentage of students in the US who graduate with debt: 69%
  • Millennial unemployment rate (25 to 34): 5.5%

Of course, there's no guarantee that relocating is a quick fix for getting out of debt, but the student-loan borrowers in the states below are faring better than the rest. We also included WalletHub's interactive map showing the rankings of all 50 states.

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