With graduation season upon us and student debt at a staggering $1.61 trillion, the personal-finance website WalletHub today released a report on the Cities with the Most & Least Student Debt in 2022 (accompanying videos and audio files), along with a nationally representative Student Money Survey. WalletHub’s editors also picked the Best Credit Cards for 2022 Graduates, to help new college and high school grads build credit and maximize savings.
|Most Overleveraged Cities||Least Overleveraged Cities|
|Selma, AL||Vienna, VA|
|Ypsilanti, MI||Fremont, CA|
|Avon Park, FL||Menlo Park, CA|
|Cordele, GA||Sammamish, WA|
|Ridgeland, MS||Milpitas, CA|
|McComb, MS||Gilroy, CA|
|Orangeburg, SC||Delano, CA|
|Hattiesburg, MS||Bronxville, NY|
|Ashland, KY||Sunnyvale, CA|
|Ithaca, NY||Coachella, CA|
Survey Results & Best Card Picks
- 93% of students are concerned about the economy.
- The number one post-graduation fear among students is not finding a job (36%), followed by student loan debt (30%).
- 20% of students think that a college education is less important due to the COVID-19 pandemic.
- 52% of students say their school is not doing enough to educate them about personal finance.
- Having emergency savings (44%) is the most important financial lesson students have learned from the pandemic, followed by not going into debt (23%) and having a steady job (22%).
- The best credit cards for 2022 graduates are the Bank of America® Unlimited Cash Rewards credit card for Students (limited credit & EDU email), the Petal® 2 Visa® Credit Card (limited credit & no EDU email) and the Discover it® Secured Credit Card (damaged credit).