NH One of the Worst States for Paying Off Student Loan Debt

A recent study by Student Loan Hero ranked New Hampshire as one of the worst states to live in when paying off student loan debt. The study compared average student loan debt for 2015 grads (state-by-state) and compared the debt to each state’s living costs and wages to determine the affordability of student loan payments.

The average student loan balance for a graduate in New Hampshire is an astounding $36,101. When compared to an average annual wage of $48,710 in the state and accounting for cost of living, the study found that New Hampshire grads spend over one-fourth (25.35%) of their disposable income on student loan payments. Spending 10 percent of disposable income on student loans is considered affordable, according to the guidelines in place for federal income-driven repayment plans. For more information on the study, check out the article.