Report: Hawaii residents carry $4B in student loan debt

Students await the presentation of diplomas Saturday.
Students await the presentation of diplomas Saturday.(UH Manoa (custom credit))
Updated: Jan. 14, 2019 at 12:24 PM HST
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HONOLULU (HawaiiNewsNow) - Hawaii residents collectively carry about $4.1 billion in student loan debt.

That’s more than twice the amount they had a decade ago, according to a new report from credit agency Experian.

The report looked at student loan debt by state since 2008.

South Carolina saw the biggest percentage increase — 315 percent — as its student loan debt grew from $5.5 billion to $23 billion over the last decade.

California was the state with the biggest student loan debt — at $132 billion. The smallest: Alaska ($2.2 billion)

Nationally, the report found that student loan debt has more than doubled in the last 10 years, hitting an all-time high of $1.36 trillion in the third quarter of 2018.

The analysis comes amid growing concerns about the costs of a higher education.

The good news for Hawaii: Students who attend college carry less debt than their counterparts who attend school on the mainland.

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