Utah places No. 2 for low student loan debt

Published: Monday, Aug. 19 2013 4:30 p.m. MDT

Students walk the campus grounds at the University of Utah in this Tuesday, Nov. 29, 2011, file photo.

Tom Smart, Deseret News

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Utah has gained attention for having the lowest average student debt in the nation.

A new report by NerdWallet showcases the 10 states with the best records for student debt. By their ranking, Utah comes in second place only to Hawaii, which has a larger average debt amount than Utah — $17,447 compared with Utah’s $17,227 — but has the lowest percentage of the population with student debt — 38 percent compared with Utah’s 45 percent.

The personal finance website attributes the Utah System of Higher Education’s Regents’ Scholarship, which awards $1,000 to students who “prepare for college academically and financially by taking a core course of study and saving for college.”

Other states included in the top 10 are Nevada, California, Arizona, Louisiana, Tennessee, Oklahoma, North Carolina and Wyoming.

Also included in NerdWallet’s rankings were the worst 10 states for student debt, with New Hampshire taking the top (or bottom) spot for its average student debt of $32,440.

The data used by NerdWallet to rate the states was compiled originally by The Institute for College Access and Success and Peterson’s College Guide.

Read more about student debt on NerdWallet.

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