How Much Student Loan Debt do Framingham Residents Have?

Joe Lipovich (Patch Staff) contributed to this report

FRAMINGHAM, MA - Students across the country are faced with the ever-growing price of a college education, and that does not change once a student has completed his or her degree.

According to a recent study by WalletHub, which looked at the cities with the most and least student loan debt in the US, nearly a fifth of a millenials' salary goes towards student loan payments. In addition, the study noted that more than half of all student loan debtors are currently delinquent.

So how much does student loan debt plague Framingham residents?

According to the study, Framingham residents face an average of $29,700 in student loan debt.

With the median income of a 25 to 44-year-old in Framingham sitting at $76,504, residents have a student debt-to-median income ratio of 39 percent, putting Framingham in the 22nd percentile of cities and towns across the country.

To find the data, analysts factored in the average student loan balance based on TransUnion data from September 2015, as well as the median income of residents aged 25 to 44 in 2,513 U.S. cities and towns.