Study: Baltimore Ranks 5th Among the Cities With the Highest Student Loan Delinquency Rates
With Americans having a collective $1.61 trillion in student loan debt, the personal-finance website WalletHub today released its new report on the Cities With the Highest Student Loan Delinquency Rates, to highlight where people have the greatest risk of credit score damage and other negative consequences. This report is based on WalletHub’s proprietary user data on consumer delinquency rates from Q3 2024.
Baltimore Stats
- Overall Rank: 5th
- Student Loan Delinquency Rate in Q3 2024: 2.00%
For the full report and to see where your city ranks, please visit:
https://wallethub.com/edu/
Key takeaways are included below in text and video format.
“Student borrowers enjoyed a great degree of delinquency protection during the COVID-19 pandemic, but now people who don’t pay on time risk owing even more money and ruining their credit. The good news is that if you miss a payment, you’ll have at least 30 days to get current before the delinquency actually gets reported to the credit bureaus. With federal student loans, that period extends to 90 days, so you have a little more time to get back on track and avoid long-term consequences.”
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“New Orleans is the city where people are most delinquent on their student loans, with more than 3% of loans in delinquent status as of Q3 2024.”
– Chip Lupo, WalletHub Analyst