How Much Student Loan Debt do Somerville Residents Have?

Joe Lipovich (Patch Staff) contributed to this story

SOMERVILLE, MA - Students across the country are faced with the ever-growing price of a college education, and that does not change once a student has completed his or her degree.

According to a recent study by WalletHub, which looked at the cities with the most and least student loan debt in the US, nearly a fifth of a millennials' salary goes towards student loan payments. In addition, the study noted that more than half of all student loan debtors are currently delinquent.

So how much does student loan debt plague Somerville residents?

While some residents very well may face an overwhelming amount of student loan debt, Somerville on average faces less student loan debt than other towns across the country. According to the study, Somerville residents face an average of $38,829 in student loan debt.

With the median income of a 25-44-year-old in Somerville sitting at $86,379, residents have a student debt-to-median income ratio of 45 percent, putting Somerville in the 37th percentile of cities and towns across the country.

To find the data, analysts factored in the average student loan balance based on TransUnion data from September 2015, as well as the median income of residents aged 25 to 44 in 2,513 U.S. cities and towns.