JACKSON, Miss. ( WJTV ) – College degrees are often an expensive pathway to economic stability, but a recent report reveals that it is lower on average for Mississippians.
Nationally, 42.2 million Americans owe a collective $1.61 trillion in student loans. On average, that is over $38,000 of debt for each borrower. The median student loan payment nationally is $178 a month. According to WalletHub, it is $142 in Mississippi, the lowest amount nationally .
The impact of this amount is still likely large for most Mississippians. The state also has the lowest real median household income. Mississippi residents on average also have the lowest credit score, the second-highest share of debt in proportion to median earnings and the fourth-highest credit card usage rate…