How Much Student Loan Debt do Philadelphians Owe? | NBC 10 Philadelphia

How Much Student Loan Debt do Philadelphians Owe?

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    How Much Student Loan Debt do Philadelphians Owe?
    Briana Jackson, Philadelphia Business Journal
    Saving for education

    Philadelphians carry a median student loan debt of $19,678, according to a report released Wednesday by personal finance site WalletHub.

    The study looked at adults over the age of 25 who have a bachelor's degree in nearly 2,000 cities, and ranked them by comparing the median student loan debt with their median earnings, since student loan debts are "more unsustainable in some places than others," according to the report.

    Philadelphia landed in the 76th percentile of all the cities, based on the ratio of their median loan balance compared to the median earnings of those with a bachelor's degree, $45,287, of 43.45 percent.

    The list was topped by smaller cities, mostly in the South and Midwest, where median loan debts are almost as high as their median salaries.

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