Student Debt For Edina Residents: How It Compares Across The US

EDINA, MN — Americans have a total of $1.61 billion in student debt — about $37,000 per borrower, according to a new study from WalletHub.

The organization conducted the study to see where borrowers and the most and least burdened by student debt in the U.S.

The median student-loan debt for Edina residents is $24,147, about 65 percent of the $37,000 per-borrower national average, according to WalletHub.

The median salary of a resident with a bachelor's degree in the city is $73,428, the study shows.

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That gives Edina the 26th-highest ratio of student debt to median earnings for bachelor's degree holders — 0.33 — among the 45 Minnesota cities included in the study.

Ypsilanti, Michigan, is the Midwest city with the worst debt-to-salary ratio, according to WalletHub. The average resident of Ypsilanti has $29,342 worth of student loan debt, while the city’s median salary is $35,080.

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The best debt-to-salary ratio was found in Saratoga, California. The median student-loan debt for Saratoga residents is $19,575, while the median salary is $91,659 per year, the study shows.

Check out the entire WalletHub study here.

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