NEW ORLEANS — The personal finance website WalletHub has released its 2018 reports on the Cities with the Most & Least Student Debt, the Best Credit Cards For College Grads, and its nationally representative Student Money Survey. The reports showed that New Orleans ranks in the top 4% of cities with the most student debt
Below are some highlights from the reports that concern New Orleans.
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Student Debt in New Orleans (99th Percentile = Highest):
- Median Student-Loan Balance: $24,507
- Median Earnings of Bachelor’s Degree Holders: $42,160
- Ratio of Student Debt to Median Earnings of Bachelor’s Degree Holders: 58.13% (96th Percentile)
Other Key Findings
- 42% of students say credit card debt worries them more than student loan debt.
- 63% of college students say their school is not doing enough to educate them about personal finance.
- 1 in 3 college students think they’ll be worse off financially than their parents.
- 1 in 4 students say excellent credit is worth more than a college degree.
- The best credit cards for recent college graduates are Capital One Platinum (for limited credit) and Citi Double Cash (for good credit).
– by Alexa Harrison, associate news editor
