From Columbia, Missouri to Gainesville, Florida, these are the 10 cities hit the hardest by student debt. (via CNBCMakeIt)
Overall impact score: 89.68Overall impact score: 93.98Median earnings for bachelor's degree holders: $50,523Median earnings for bachelor's degree holders: $39,839Median earnings for bachelor's degree holders: $41,782Gainesville, Florida, was named the No. 1 city most impacted by student debt. The city is home to the University of Florida, which enrolls some 52,218 students, a factor which likely impacted the city's top spot on SmartAsset's ranking.
"University towns appear to be disproportionately affected by student debt," Smith explains. "All of the top six metro areas hit hardest by student debt are college towns." While it may be unsurprising that college towns with a high number of current students and recent graduates have above average levels of student debt and earn below average wages, Smith stresses that student debt impacts communities beyond just college capuses.
"This is the second largest form of U.S. consumer debt," she says. "When you have to budget in paying off student loan debt, something generally has to give, whether that is the amount of spending you're doing on a regular basis — going out and supporting community businesses, going out to dinner, going out to lunch, buying goods — and it also impacts people's personal goals like retirement or buying a home.
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