Connecticut has one of highest student loan payments in US, per WalletHub. What it is

Connecticut has one of the highest student loan payments in the country, a new ranking says.

Personal finance company WalletHub just released its list of states with the highest student loan payments, and Connecticut took the No. 4 spot.

WalletHub said the list was compiled based on consumer data and and the median student loan payment amounts across all states.

“Around 42.2 million Americans owe a collective $1.61 trillion in student loans. That comes out to an average of over $38,000 of debt for each borrower,” the study said.

Here’s why Connecticut ranked high on the list.

How high are Connecticut’s student loan payments?

Connecticut’s median student loan payment is the fourth highest of any state in the country, according to WalletHub’s ranking.

According to the list, Connecticut residents have a median monthly student loan payment of $213.

On the other end of the scale, the states with the lowest monthly student loan payments in the study were Arkansas and Mississippi with a payment of $142.

Which states have the highest student loan payments?

While Connecticut has the fourth-highest student loan payments, several other New England states made the list. See the 10 highest scorers:

1. New Hampshire
2. Massachusetts
3. Vermont
4. Connecticut
5. New Jersey
6. New York
7. Illinois
8. Maryland
9. Colorado
10. Virginia

How the states with the highest student loan payments were ranked

To rank the states with the highest student loan payments, WalletHub said it examined two factors: consumer data and and the median student loan payment amounts across all states.