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WalletHub’s 2022 graduation reports: Cities with the most student debt, student money survey and best cards for grads

With graduation season upon us and student debt at a staggering $1.61 trillion, the personal-finance website WalletHub released a report on the Cities with the Most & Least Student Debt in 2022, along with a nationally representative Student Money Survey. WalletHub’s editors also picked the Best Credit Cards for 2022 Graduates, to help new college and high school grads build credit and maximize savings.

Most Overleveraged Cities Least Overleveraged Cities
Selma, AL   Vienna, VA  
Ypsilanti, MI   Fremont, CA  
Avon Park, FL   Menlo Park, CA  
Cordele, GA   Sammamish, WA  
Ridgeland, MS   Milpitas, CA  
McComb, MS   Gilroy, CA  
Orangeburg, SC   Delano, CA  
Hattiesburg, MS   Bronxville, NY  
Ashland, KY   Sunnyvale, CA  
Ithaca, NY   Coachella, CA

Survey Results & Best Card Picks

  • 93% of students are concerned about the economy.
  • The number one post-graduation fear among students is not finding a job (36%), followed by student loan debt (30%).
  • 20% of students think that a college education is less important due to the COVID-19 pandemic.
  • 52% of students say their school is not doing enough to educate them about personal finance.
  • Having emergency savings (44%) is the most important financial lesson students have learned from the pandemic, followed by not going into debt (23%) and having a steady job (22%).
  • The best credit cards for 2022 graduates are the Bank of America® Unlimited Cash Rewards credit card for Students (limited credit & EDU email), the Petal® 2 Visa® Credit Card (limited credit & no EDU email) and the Discover it® Secured Credit Card (damaged credit).
This article was released by WalletHub.