Lubbock Ranks #7 In Delinquent Student Loans

The concept seems simple, you take out a loan, and you pay it back.

The Economy

It's tough out there, trust me I know. I'm well aware that it's a bit of grind and that between food, rent, and keeping up your transportation, things can be very tough. This causes people to prioritize things, and some things just get pushed to the bottom of the bill pile. Then they get pushed further back because you're "behind anyway" and so on, and so on. It's not right, it's nor moral, but at least most of us understand what you're going through.

The Bad Debt

Student loan debt is out of control everywhere. I can't speak too much to the nature of it, but a lot of it has been called "predatory" and the paybacks "excessive". Again, you probably knew or heard about these things going in, but when you're young and your future is on the line, you've may have dug yourself a hole that is really hard to get out of. I don't know if it helps, but you are not alone.

Where Lubbock Lands

Wallethub ranks Lubbock 7th in it's rate of delinquent student loans. Does this mean everyone is defaulting on student loans? Not really, all it took for Lubbock to hit that seventh spot is a 1.77% rate of delinquency (in the 3rd quarter of this year). Using some of that school math, that's a rate of about 1 in 50 people who aren't, or aren't able to pay thier bills. It's a little embarrassing, but the #1 city, New Orleans, Louisiana comes in with a little less than twice that much at 3.04%.