According to the website, the methodology used to calculate ranking was determined by the following:
WalletHub put extra valuation on factors such as share of students with debt, student debts as a share of income, and share of student-loan borrowers aged 50 years and older.
Mississippi has 59.56 points out of 100. It ranked first both in highest percentage of student-loan balances past due or in default and in highest student debt as a percentage of income, adjusted for cost of living. It was third in highest unemployment rate for people aged 25 to 34, and 9th in student-loan indebtedness, according to the study.
According to a September 2018 report from the Institute for College Access and Success, the Mississippi class of 2017 had an average debt of $30,439 with 58 percent of students with debt.
In an earlier WalletHub study in April 2019, Mississippi ranked 49 overall in best states for millennials with a total score of 38.06 out of 100 points. The methodology used looked at five factors: education and health, affordability, quality of life and economic health, all worth 22.5 points, and civic engagement, worth 10 points. The study defined millennials as anyone born between 1981 and 1997.
According to WalletHub, millennials are disadvantaged because of the following:
“Despite millennials’ trillion-dollar purchasing power and higher educational attainment, they are economically worse off than their parents. Why? The financial crisis remains a big part of the reason. Millennials have come of age and entered the workforce in the shadow of the Great Recession, which has significantly reduced their job prospects and earning potential for decades to come.”
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