Student loans account for about $1.6 trillion in debt in the United States, the second-largest form of household debt behind mortgages, according to WalletHub study. On average, each student borrower has post-college debt of $37,000, according to the study. By comparing the median student loan debt to the median incomes of people ages 25 and older with a bachelor’s degree in more than 2,500 cities, WalletHub determined which cities in the United States have the most and the least student loan debt. .
Midland is in the 91st percentile of cities with the lowest ratio of median student loan debt to median income, making it one of the least over-indebted cities in Texas and the United States. The median student debt in the city is $16,500 and the median income is $61,204 for a debt-to-income ratio of 26.96%.