College debt is the highest in one very specific region
For most Americans, it's one of the first ways they get into debt.
Student loans have now surpassed $1.6 trillion, double of what it was just a decade ago.
A new report by LendEDU reveals he top five states with the highest average student debt per borrower are concentrated in one region - the Northeast:
- Connecticut
- New Hampshire
- Pennsylvania
- Rhode Island
- Delaware
"Data shows student debt across the country is twice what it was 10 years ago and it affects more than 44 million Americans," Fox News Correspondent Jacqui Heinrich told FOX Business' Neil Cavuto on "Cavuto: Coast to Coast."
Student loan debt reached $1.6 trillion at the end of June, according to data gathered by the Federal Reserve. A majority of students graduate with an average of $29,000 in student loan debt.
Average student debt by state
“Comparison website LendEDU compared costs from about 1,000 colleges, and they say students in the Northeast shoulder the greatest burden with Connecticut topping that list," Heinrich said.
"On average, students can plan to graduate with more than $38,000 in the red there."
Two Democratic presidential hopefuls who represent two of those Northeastern states are suggesting ways to tackle the student loan problem.
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Sen. Elizabeth Warren, D-N.H., is proposing to wipe out nearly all student debt for 42 million Americans by canceling up to $50,000 in debt for each person, while Sen. Bernie Sanders, D-Vt., is calling for complete student-debt forgiveness.