Rhode Island Ranked Worst State for Student Debt
GoLocalProv News Team
Rhode Island Ranked Worst State for Student Debt
Read full study here.
Methodology
For this study, WalletHub analyzed 50 states and the District of Columbia across seven key metrics.
These metrics included average student debt, unemployment rate, and percentage of students with past-due loan balances.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTRhode Island also placed last for the highest unemployment rate for people aged 24 to 34.
New England States' Grades for Debt Protection
Overall Grades - RI
Overall Rating for the State of Strength Protections for Family Finances
Rhode Island: C
"Protections have many gaps and weaknesses"
Overall Grades - NE
Overall Rating for the State of Strength Protections for Family Finances
Massachusetts: B
New Hampshire: B
Connecticut: C
Maine: C
Vermont: C
Wage Protection - RI
State Protection of Wages
Rhode Island: F
"Protects only the federal minimum"
Wage Protection - NE
State Protection of Wages
Massachusetts: D
New Hampshire: D
Connecticut: D
Maine: D
Vermont: D
"Preserves more of a worker's wages than is required by federal law"
Car Protection - RI
Protection of the Family Car
Rhode Island: A
"Protects an average compact car from seizure"
Car Protection - NE
Protection of the Family Car
Massachusetts: A
"Protects an average compact car from seizure"
Vermont, New Hampshire: B
"Provides at least $9000 in combined exemption for car and household goods"
Maine C:
"Protects a car worth $5000 to $6999"
Connecticut: D
"Protects a car worth $1500 to $4999"
Home Protection - RI
Protection of the Family Home
Rhode Island: A
"Protects the family home regardless of value, or that protect a median priced home ($211,312)"
Home Protection - NE
Protection of the Family Home
Massachusetts: A
"Protects the family home regardless of value, or that protect a median priced home ($211,312)"
Vermont, New Hampshire: B
"Protects a home worth $100,000 to $211,311"
Maine, Connecticut: C
"Protects a home between $50,000 and $99,000 in value"
Household Goods -- RI
Protection of the Family Household Goods
Rhode Island: C
"Protects $7000 to $9,999 of household goods"
Household Goods -- NE
Protection of the Family Household Goods
Maine, Connecticut: A
"Protects all of a debtor's household goods"
Massachusetts, New Hampshire: B
"Protects at least $10,000 of household goods"
Vermont: C
"Protects $7,000 to $9,999 of household goods"
Bank Accounts - RI
Protection of Family Bank Accounts
Rhode Island: F
"States that offer no protection, or with protection for only specialized types of accounts, or that just provide a wildcard of $3,999 or less for bank account household goods, and car"
Bank Accounts - NE
Protection of Family Bank Accounts
Vermont, New Hampshire: B
"States that protect at least $700 in bank account, plus car and household goods worth at least $9,000, or that explicitly exempt deposited wages"
Connecticut: C
"States that protect at least $700 in bank account, plus car and household goods worth total of $7,000"
Maine: D
"States that protect car and household goods worth at least $4,000 to $6,999, plus at least $300 in bank account"
New England States' Grades for Debt Protection
Overall Grades - RI
Overall Rating for the State of Strength Protections for Family Finances
Rhode Island: C
"Protections have many gaps and weaknesses"
Overall Grades - NE
Overall Rating for the State of Strength Protections for Family Finances
Massachusetts: B
New Hampshire: B
Connecticut: C
Maine: C
Vermont: C
Wage Protection - RI
State Protection of Wages
Rhode Island: F
"Protects only the federal minimum"
Wage Protection - NE
State Protection of Wages
Massachusetts: D
New Hampshire: D
Connecticut: D
Maine: D
Vermont: D
"Preserves more of a worker's wages than is required by federal law"
Car Protection - RI
Protection of the Family Car
Rhode Island: A
"Protects an average compact car from seizure"
Car Protection - NE
Protection of the Family Car
Massachusetts: A
"Protects an average compact car from seizure"
Vermont, New Hampshire: B
"Provides at least $9000 in combined exemption for car and household goods"
Maine C:
"Protects a car worth $5000 to $6999"
Connecticut: D
"Protects a car worth $1500 to $4999"
Home Protection - RI
Protection of the Family Home
Rhode Island: A
"Protects the family home regardless of value, or that protect a median priced home ($211,312)"
Home Protection - NE
Protection of the Family Home
Massachusetts: A
"Protects the family home regardless of value, or that protect a median priced home ($211,312)"
Vermont, New Hampshire: B
"Protects a home worth $100,000 to $211,311"
Maine, Connecticut: C
"Protects a home between $50,000 and $99,000 in value"
Household Goods -- RI
Protection of the Family Household Goods
Rhode Island: C
"Protects $7000 to $9,999 of household goods"
Household Goods -- NE
Protection of the Family Household Goods
Maine, Connecticut: A
"Protects all of a debtor's household goods"
Massachusetts, New Hampshire: B
"Protects at least $10,000 of household goods"
Vermont: C
"Protects $7,000 to $9,999 of household goods"
Bank Accounts - RI
Protection of Family Bank Accounts
Rhode Island: F
"States that offer no protection, or with protection for only specialized types of accounts, or that just provide a wildcard of $3,999 or less for bank account household goods, and car"
Bank Accounts - NE
Protection of Family Bank Accounts
Vermont, New Hampshire: B
"States that protect at least $700 in bank account, plus car and household goods worth at least $9,000, or that explicitly exempt deposited wages"
Connecticut: C
"States that protect at least $700 in bank account, plus car and household goods worth total of $7,000"
Maine: D
"States that protect car and household goods worth at least $4,000 to $6,999, plus at least $300 in bank account"
New England States' Grades for Debt Protection
Overall Grades - RI
Overall Rating for the State of Strength Protections for Family Finances
Rhode Island: C
"Protections have many gaps and weaknesses"
Overall Grades - NE
Overall Rating for the State of Strength Protections for Family Finances
Massachusetts: B
New Hampshire: B
Connecticut: C
Maine: C
Vermont: C
Wage Protection - RI
State Protection of Wages
Rhode Island: F
"Protects only the federal minimum"
Wage Protection - NE
State Protection of Wages
Massachusetts: D
New Hampshire: D
Connecticut: D
Maine: D
Vermont: D
"Preserves more of a worker's wages than is required by federal law"
Car Protection - RI
Protection of the Family Car
Rhode Island: A
"Protects an average compact car from seizure"
Car Protection - NE
Protection of the Family Car
Massachusetts: A
"Protects an average compact car from seizure"
Vermont, New Hampshire: B
"Provides at least $9000 in combined exemption for car and household goods"
Maine C:
"Protects a car worth $5000 to $6999"
Connecticut: D
"Protects a car worth $1500 to $4999"
Home Protection - RI
Protection of the Family Home
Rhode Island: A
"Protects the family home regardless of value, or that protect a median priced home ($211,312)"
Home Protection - NE
Protection of the Family Home
Massachusetts: A
"Protects the family home regardless of value, or that protect a median priced home ($211,312)"
Vermont, New Hampshire: B
"Protects a home worth $100,000 to $211,311"
Maine, Connecticut: C
"Protects a home between $50,000 and $99,000 in value"
Household Goods -- RI
Protection of the Family Household Goods
Rhode Island: C
"Protects $7000 to $9,999 of household goods"
Household Goods -- NE
Protection of the Family Household Goods
Maine, Connecticut: A
"Protects all of a debtor's household goods"
Massachusetts, New Hampshire: B
"Protects at least $10,000 of household goods"
Vermont: C
"Protects $7,000 to $9,999 of household goods"
Bank Accounts - RI
Protection of Family Bank Accounts
Rhode Island: F
"States that offer no protection, or with protection for only specialized types of accounts, or that just provide a wildcard of $3,999 or less for bank account household goods, and car"
Bank Accounts - NE
Protection of Family Bank Accounts
Vermont, New Hampshire: B
"States that protect at least $700 in bank account, plus car and household goods worth at least $9,000, or that explicitly exempt deposited wages"
Connecticut: C
"States that protect at least $700 in bank account, plus car and household goods worth total of $7,000"
Maine: D
"States that protect car and household goods worth at least $4,000 to $6,999, plus at least $300 in bank account"
New England States' Grades for Debt Protection
Overall Grades - RI
Overall Rating for the State of Strength Protections for Family Finances
Rhode Island: C
"Protections have many gaps and weaknesses"
Overall Grades - NE
Overall Rating for the State of Strength Protections for Family Finances
Massachusetts: B
New Hampshire: B
Connecticut: C
Maine: C
Vermont: C
Wage Protection - RI
State Protection of Wages
Rhode Island: F
"Protects only the federal minimum"
Wage Protection - NE
State Protection of Wages
Massachusetts: D
New Hampshire: D
Connecticut: D
Maine: D
Vermont: D
"Preserves more of a worker's wages than is required by federal law"
Car Protection - RI
Protection of the Family Car
Rhode Island: A
"Protects an average compact car from seizure"
Car Protection - NE
Protection of the Family Car
Massachusetts: A
"Protects an average compact car from seizure"
Vermont, New Hampshire: B
"Provides at least $9000 in combined exemption for car and household goods"
Maine C:
"Protects a car worth $5000 to $6999"
Connecticut: D
"Protects a car worth $1500 to $4999"
Home Protection - RI
Protection of the Family Home
Rhode Island: A
"Protects the family home regardless of value, or that protect a median priced home ($211,312)"
Home Protection - NE
Protection of the Family Home
Massachusetts: A
"Protects the family home regardless of value, or that protect a median priced home ($211,312)"
Vermont, New Hampshire: B
"Protects a home worth $100,000 to $211,311"
Maine, Connecticut: C
"Protects a home between $50,000 and $99,000 in value"
Household Goods -- RI
Protection of the Family Household Goods
Rhode Island: C
"Protects $7000 to $9,999 of household goods"
Household Goods -- NE
Protection of the Family Household Goods
Maine, Connecticut: A
"Protects all of a debtor's household goods"
Massachusetts, New Hampshire: B
"Protects at least $10,000 of household goods"
Vermont: C
"Protects $7,000 to $9,999 of household goods"
Bank Accounts - RI
Protection of Family Bank Accounts
Rhode Island: F
"States that offer no protection, or with protection for only specialized types of accounts, or that just provide a wildcard of $3,999 or less for bank account household goods, and car"
Bank Accounts - NE
Protection of Family Bank Accounts
Vermont, New Hampshire: B
"States that protect at least $700 in bank account, plus car and household goods worth at least $9,000, or that explicitly exempt deposited wages"
Connecticut: C
"States that protect at least $700 in bank account, plus car and household goods worth total of $7,000"
Maine: D
"States that protect car and household goods worth at least $4,000 to $6,999, plus at least $300 in bank account"