See Where Buffalo Ranks When It Comes To Student Loan Debt
LendingTree just released a report on the places in the US with the most student loan debt, and the financial website puts Buffalo at #67.
The study looked at average loan balances, the average number of loans, and the percentages of people who owed more than $50K, and more than $100K.
"LendingTree analysts looked at a sample of anonymized users who logged into My LendingTree in the first quarter of 2018 and calculated how many had student loans, as well as the other reported statistics related to their balances," explains the report.
Buffalo ranks at 67 on the list of 100 places, with the median loan balance in the Queen City at $17,256. 18.6 percent of people in Buffalo are carrying a student loan balance above $50K, and 5.3 percent with a balance in excess of $100,000.
The city taking the top spot for student loan debt is Washington D.C., with the median student loan balance at $22,803.
LendingTree explains, "One in two people over the age of 25 has a postsecondary degree in the Washington, D.C. metro, which is significantly higher than the 30 percent of all Americans who have earned a bachelor's degree or higher. Even more significant: Nearly one out of four have professional or graduate degrees, more than double the national rate of 11.5 percent."
The city with the least amount of student loan debt is McAllen, Texas, with a median balance of $13,017. LendingTree explains the low figure due to the low percentage of people who enroll in post-secondary education in the area, saying: "Only 17 percent have a bachelor's degree, and 5 percent have a graduate degree. While the number of people who have some college experience is 3 percent less than the nation as a whole, it should be lower, given how few people complete school relative to the rest of the country."