Good News: Wyoming Is the State Least Affected by Student Loan Payments

Student loan debt is major concern for a large portion of America, but luckily, at least for most Wyomingites, it is much less of concern.

A recent study conducted by personal finance website, WalletHub, provided some very disturbing numbers. According to their research:

Around 43.8 million Americans owe a collective $1.64 trillion in student loans, which comes out to around $37,000 per borrower. However, students have had a bit of a reprieve from this massive mountain of debt – in response to the economic damage of the COVID-19 pandemic, the government issued a moratorium on federal student loan payments and interest.

Unfortunately, all good things must come to an end, and federal student loans began accruing interest again on September 1, 2023. Students will have to begin making monthly payments again starting in October.

Those are massive numbers. If the average debt is that high, that means their are more than likely millions of Americans with student loan balances way over $40,000.

Compared to the rest of the country, Wyoming is the state the least affected by Student Loan Payments Moratorium ending. Out of the all fifty states and the District of Columbia, we it definitely affects us the least.

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Some of the key metrics Wyoming scored well on include:

• 51st - Overall rank for Wyoming
• 49th – Share of Residents with Student Debt
• 47th – Average Student Debt per Borrower
• 44th – Share of Student Loans in Past-Due or Default Status
• 36th – Average Student Loan Debt Eligible for Forgiveness per Borrower
• 37th – Share of Student Loan Borrowers Eligible for Forgiveness
• 35th – Average Student Debt as Share of Income

With the state of the nation's economy overall, it's nice to know, Wyomingites have a little less to worry about.