One Illinois City Is Drowning In More Student Debt Than Any Other In America

Hey, you just graduated from college!  Congratulations.  Now you are buried in debt.  Good luck paying it off over the next 20 years.

Unfortunately, that is more of a reality than not for students in 2025.  And there is one town that has more debt for more students than any other in Illinois. 

$1.6 Trillion In Student Debt

The only debt in America that is higher than student debt is mortgages.  The American Dream.

Post-college debt totals more than $1.6 trillion.  That's about $38,000 per borrower.

Students leave school with high balances and high interest rates as they start a career.  And typically at the start of the career, students aren't making top dollar, so while they pay debts, it's mostly interest payments being made.

WalletHub compared the median student-load balance against the median earnings of adults ages 25 and older with a bachelor's degree in more than 2,500 cities.  You don't want to be in a city on top of that list.  But Illinois has one of the top ones.

Not As Bad As Loma Linda, CA

Loma Linda, California, is on top of the list.  Not the list you want to be on top of.  But just below that, Carbondale, Illinois.

Carbondale has a median student debt of $24,717.  While the Median earnings of Bachelor's Degree holders are $31,557.  That's a ratio of debt to earnings of 78.32%.

The next closest cities in Illinois are Bellwood at 51.82% and Loves Park at 51.41%.

On the opposite end of the spectrum, Scarsdale, New York, is the place to be for student debt.  The median student debt is $22,869.  While the Median earnings of Bachelor's Degree holders are $176,689.

The best in Illinois, Lake Zurich.  %18,297 to $92,821.  That is a 19.71% ratio.  Way better than what Carbondale is dealing with.

Robert Haywood Scott III, a professor at Leon Hess Business School - Monmouth University, says, "People need to think about the real return on their education dollars. Not everyone will have the same budget or needs. For example, if someone has all the money in the world, then they can go where they want and study what they want. It’s still better to go to a good school and get a valuable major, but people who don’t need to borrow have more flexibility."

So, before making that choice in college because you like the mascot of the football team, really decide if it's going to be the best for your future.