Student Loan Debt in Fredericksburg

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 millenials' salary goes toward student loan payments. In addition, the study noted that more than half of all student loan debtors are currently delinquent.

So how much student loan debt plagues Fredericksburg residents?

According to the study, Fredericksburg residents face an average of $31,912 in student loan debt.

With the median income of a 25-44-year-old in Fredericksburg sitting at $49.432, residents have a student debt-to-median income ratio of 65 percent, putting Fredericksburg in the 76th 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.