January 29, 2021

The data shows that 45 million Americans carry $ 1.64 trillion in federal and private student debt. It is the second largest debt burden in the country, after mortgages. And yet, these loans are not evenly distributed, and your place of residence may be factored into your repayment.

Borrowers include not only university graduates, but also people who have not completed their education, graduate students, some professional interns, and parents of undergraduate students. Unlike most other forms of debt, student loan debt generally cannot be discharged by bankruptcy, although some may be forgiven by various programs.

These student loan charges can vary widely across the country, and not always for obvious reasons. For example, someone who dropped out of college after two years with debt or who lives in a community with lower income may have a much harder time repaying than someone who graduated with double the debt.

There are also situations where the state tax burden could facilitate repayment or if there are programs to help you with your student loans. Sometimes moving to a new location can help you pay off your debt a little earlier – check out this guide for more details.

Looking at the toughest parts of the country, our analysts analyzed numbers from over 300,000 anonymous My LendingTree user credit reports from student loan debtors in America’s 100 largest metropolitan areas. They used this information to determine the median student loan burden, as well as the median monthly payments of those with active monthly bills. The reports are from February 2020, immediately before the destabilization of the coronavirus crisis and the passage of the CARES Act and include both federal and private loans.

Take a look at this table below to see where your home is in the debt rankings, and also take a look at our post of similar figures calculated as averages and most relevant for federal loans that are the subject of the CARES Act.

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