States With the Highest—And Lowest—Student Loan Payments

Student loans can be a good way to help pay for college if you can't afford it otherwise, but how much you have to take out and how much you have to pay back can be tough depending on where you live,Outstanding student loans can vary by state. Some states have a higher cost of living than others, so going to college there could mean taking out more loans to cover food and housing during school. The types of jobs in the state can also contribute to higher student loans. States with more academic institutions may have more students, which means more people needing loans. And states with a high number of hospitals or medical institutions will attract more people who have accumulated high student debt.So how in debt is your state? Check out this report from WalletHub to see which states have the most—and least—student debt that still needs to be paid off.Map of U.S. states ranked by median monthly student loan payments. | WalletHubNew England has the highest student loansNew England states have the highest monthly median student loan payments, with four of the top five states coming from that area.Vermont leads all states with a median student loan payment of $258 a month. Second-place Massachusetts came in with $250 a month in median loan payments.Brown University after a snowstorm. | kickstand/GettyImagesThird-place Maryland and fourth-place New Hampshire were close behind, with both paying around $249 a month in median loan payments. Connecticut was in fifth place with a payment that was $2 cheaper at $247.Surprisingly, only two of the 15 colleges and universities in the United States that charge more than $100,000 a year to attend are in New England states. Wesleyan University is located in Connecticut, while Smith College is in Massachusetts.Four of the 15 universities that cost at least $100,000 a year are in New York: Barnard College, Fordham University, Colgate University, and Vassar College. The state ranks seventh with a median monthly student loan payment of $242.The states with the highest monthly median student loan payment include:Vermont: $258Massachusetts: $250Maryland: $249New Hampshire: $249Connecticut: $247New Jersey: $246New York: $242Illinois: $238California: $237Rhode Island: $236Southern states are more affordableSix of the 10 states that have the lowest monthly loan costs are in the South, but it's actually a mountain state that leads the pack.Wyoming has the lowest median student loan payment with a monthly cost of $160. That payment is almost $100 lower than the top-ranked Vermont.Second-place Arkansas also has a median monthly payment of around $160, while third-place North Dakota is close behind with a median monthly payment of $161.Old Main on the University of Arkansas campus. | BlazenImages/GettyImagesThose states were followed by Southern states Kentucky, West Virginia, and Mississippi.One of the advantages of living in a state with a low cost of living may include a lower cost for college tuition. That also means you can get a smaller loan to cover tuition as well as living expenses such as food and housing.The four states that have the lowest cost of living in the U.S. also made the top 10 most affordable median monthly payments for student loans. The state with the lowest cost of living is Oklahoma, and it also has the 10th-lowest median monthly payments at $179 per month. The other states with the lowest cost of living include Mississippi, West Virginia, and Alabama.The top 10 states that have the lowest monthly median student loan payments, according to WalletHub, include:Wyoming: $160Arkansas: $160North Dakota: $161Kentucky: $162West Virginia: $165Mississippi: $167Nevada: $168Alabama: $175New Mexico: $176Oklahoma: $179More State-By-State Data: