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Here Are The States Where Your Debt Is Most Expensive

Jan 8, 2015, 00:39 IST

Over the course of a lifetime, the typical American will end up paying $279,002 in interest on their loans.

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And if you live in Washington D.C., that number is even higher.

According to a Credit.com study, a typical D.C. resident will pay $451,890 in interest over the course of their lifetime. < rephrased bc "lifetime cost of debt" is v unclear

Iowa, on the other hand, is the state with the lowest lifetime cost of debt - meaning a typical resident will pay $129,394 in interest.

If you're thinking of running away from your debt, to, say, Hawaii, think again. The Aloha State actually has the third highest cost of lifetime debt ($312,747).

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You might want to retreat to the Midwest instead - think Wisconsin - or some parts of the East Coast like Maine and Pennsylvania.

Here are the 10 states with the highest lifetime cost of debt:

And here are the 10 states with the lowest lifetime cost of debt:

 

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To see the full methodology, visit Credit.com.

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