Utah Ranked Lowest for Student Debt in 2026
A new WalletHub study identified Utah as the state with the least student debt per capita in the nation.
Updated on Sept. 28, 2026 in Financial Aid
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Utah has secured the lowest ranking for student loan indebtedness in a 2026 study by WalletHub, which placed the state 51st out of 51. The findings highlight a stark contrast to Mississippi, which reported the highest level of student debt in the United States.
Why it matters
The ranking reflects the impact of Utah’s mandatory financial literacy curriculum for high school students alongside the state's comparatively lower costs for college tuition and fees. These factors help residents manage educational expenses more effectively than their counterparts in higher-debt states.
Utah maintains the 51st position in national student debt rankings, while the average student debt for 42.6 million Americans exceeds $40,000 per borrower. Nationally, outstanding student loan balances surpassed $1.72 trillion by the end of Q2 2026.
The players
WalletHub
This personal finance website provides comparative studies and credit scores for consumers.
Utah Board of Higher Education
This entity provides governance and policy oversight for the public college and university system in Utah.
The details
The WalletHub survey assessed states based on student-loan indebtedness, grant availability, and work opportunities. While Utah holds the lowest debt rank, the state’s Board of Higher Education recently implemented a 2.28% average tuition increase for the current academic year at public four-year institutions.
Timeline
Q2 2026 marks the period when total national student loan balances exceeded $1.72 trillion.
The WalletHub study regarding state student debt rankings was conducted in 2026.
Utah colleges implemented a 2.28% average tuition increase for the 2026 academic year.
Culture Shift
The study highlights a shift toward prioritizing financial literacy in public education to curb ballooning student loan balances. This contrasts with the debt-heavy trends observed in states like Mississippi, where student debt currently accounts for over 54% of median income.
Residents benefit from lower relative debt burdens, though students must account for a 2.28% increase in systemwide tuition costs this year. High school students in the area will continue to complete mandatory financial literacy courses to help manage these personal college investments.
The takeaway
Students should leverage state-mandated financial literacy training to make informed decisions regarding loan reliance and tuition planning. Comparing state-level debt trends can provide valuable perspective for families evaluating the financial viability of various higher education paths.
Further reading
For additional context on how educational costs are managed in the state, visit Financial Aid.
Live Poll
Do you believe mandatory high school financial literacy courses help students avoid unmanageable debt?
