CT among the states most impacted by the end of the student loan moratorium
HARTFORD, CT (WFSB) - Connecticut ranked among the states that will be the most impacted by the return of student loan payments.
The personal finance website WalletHub.com on Tuesday released its report on the States Most Affected by Student Loan Payments Moratorium Ending.
Researchers put Connecticut at 7th.
Federal student loan interest resumed on Sept. 1. Payments were required to resume on Oct. 1.
The end of the student loan payments pause will hit students in some states harder than others, WalletHub said.
In order to determine the states most affected by the end of the moratorium, WalletHub said it compared the 50 states and the District of Columbia across 12 key metrics. The metrics included the average student loan debt per borrower, the share of state residents with student debt, and share of student loan borrowers eligible for forgiveness.
Here are the rankings for Connecticut’s metrics, which ultimately resulted in its overall rank:
- 22nd in average student debt per borrower
- 8th in share of residents with student debt
- 20th in share of student loans in past-due or default status
- 4th in average student loan debt eligible for forgiveness per borrower
- 5th in share of student loan borrowers eligible for forgiveness
The states that ranked ahead of Connecticut were Pennsylvania, Mississippi, New Hampshire, Delaware, New Jersey, and North Carolina.
The least impacted states were Montana, Washington and Wyoming.
See WalletHub’s complete report on its website here.
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