Student debt is high, especially in Iowa

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Eric Wirth

The Institute for College Access & Success (TICAS) released a report that looked at the debt incurred by 2013 college graduates. The report had the state of Iowa ranking in at ninth in a list of the states with the highest average debt. 

The ten states with the highest average student debt in the nation were:

10 South Carolina ($29,092) 
 9 Iowa ($29,370) 
 8 Michigan ($29,583) 
 7 Maine ($29,934) 
 6 Connecticut ($30,191) 
 5  Minnesota ($30,894)
 4  Rhode Island ($31,561)
 3  Pennsylvania ($32,528)
 2  Delaware ($32,571)
 1  New Hampshire ($32,795)

The ten states with the nation’s lowest average debt were:

10 Louisiana ($23,358) 
 9  Wyoming ($22,879)
 8  Hawaii ($22,785) 
 7  Utah ($22,418) 
 6  Arizona ($22,253) 
 5  Oklahoma ($22,174) 
 4  District of Columbia ($22,048) 
 3  Nevada ($21,666) 
 2  California ($20,340) 
 1  New Mexico ($18,656) 

Roberta Johnson, director of the Office of Student Financial Aid, said that early financial planning is one of the keys to reducing student debt. Putting money away early in a child’s life can benefit in the long run she said.