Student Loans

Best States to Live in to Pay Off Student Loans

A state that lets you keep more of what you make is also likely to leave you with more funds to put toward your student loans. Here are some states that make it easier to pay off student loans.

No or Low-Income Taxes

Seven states don’t make you pay any income tax at all. As of 2019, these states are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. 

No Sales Tax

Five states don’t charge any sales tax: Alaska, Delaware, Montana, New Hampshire, and Oregon. (Alaska and Montana do allow local rather than state-level sales taxes).

Lowest Cost of Living

The 10 states with the lowest cost of living are (starting with the most affordable): Mississippi, Arkansas, Oklahoma, Michigan, Tennessee, Missouri, Kansas, Alabama, Georgia, and Indiana.

Highest Incomes

These states had median household incomes that were far higher than the 2016 national median of $58,552: Washington ($67,106), California ($67,739) and Hawaii ($74,511).

Best Job Prospects

These are the 10 best states for employment based on a combination of having a low unemployment rate, high labor-force participation, and high job growth: Hawaii, North Dakota, Colorado, Utah and New Hampshire.

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