"Local News Mass. borrowers have the second-highest monthly median student loan payment. Massachusetts has the second highest median student loan payment, according to WalletHub. The median student loan payment for Massachusetts borrowers is $241 each month, according to the report released on Oct. 2. Mass. falls just behind Vermont, where the borrowers pay a median of $248 each month. More than 40 million Americans hold government-issued student loans, and they collectively owe more than $1.6 trillion."
"WalletHub analyzed its latest consumer finance data to rank U.S. states by median student loan payment per borrower, listing those with the highest and lowest payments. According to Investopedia, Massachusetts has about 921,000 borrowers with $32.6 billion in federal student debt, plus another $2.58 billion in private loans. Federal loan repayment processes have changed recently given new guidelines by the Trump administration and the impact of the government shutdown."
Massachusetts borrowers face a median student loan payment of $241 per month, the second-highest state median behind Vermont's $248. More than 40 million Americans hold government-issued student loans totaling over $1.6 trillion. The average student loan balance exceeds $39,000; at a 6.39% fixed federal undergraduate rate, repaying that balance over 20 years would require about $288 per month. Mississippi reports the smallest median payment at $142. State-level rankings used recent consumer finance data. Massachusetts has about 921,000 borrowers with $32.6 billion in federal debt and $2.58 billion in private loans. Federal repayment processes recently changed amid new guidelines and a government shutdown.
Read at Boston.com
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