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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →New York ranks seventh among states in WalletHub’s October 2026 student-loan payment comparison, with a median monthly payment of $242 per WalletHub user. That is the report’s user-level median—not an average for every New York borrower or a government estimate.
What WalletHub’s ranking says about New York
WalletHub says it calculated the median student-loan payment per user in each state using its latest consumer-finance data, then ranked states by those medians. In its October 1, 2026 report, New York’s median is $242 per month and the report labels the state seventh among the 50 state observations. Read WalletHub’s state ranking and methodology.
A median is the middle value in the measured group: half of the observations fall at or below it and half at or above it. It does not mean every New Yorker pays $242, and it should not be described as the statewide average for all borrowers.
How New York compares with other states
WalletHub reports Vermont at the top of the ranking, with a $258 median monthly payment. Wyoming is at the low end, at slightly more than $159. WalletHub describes the difference between those two state medians as nearly $99.
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| State | WalletHub rank | Median monthly payment |
|---|---|---|
| Vermont | 1 | $258 |
| Massachusetts | 2 | $250 |
| Maryland | 3 (tied) | $249 |
| New Hampshire | 3 (tied) | $249 |
| Connecticut | 5 | $247 |
| New Jersey | 6 | $246 |
| New York | 7 | $242 |
| Wyoming | 50 | Slightly over $159 |
These are figures from WalletHub’s own comparison and should be compared within that methodology. The ranking’s displayed excerpt includes tied positions, so New York is best described as seventh as WalletHub labels it.
Monthly payment and loan balance are different measures
Long Island Life & Politics reported that New York’s average student-loan balance was $40,666, or 2.61% above the national average, attributing that balance figure to the Education Data Initiative (EDI). Read the Long Island Life & Politics report. EDI’s state data page provides further context on debt balances: Student Loan Debt by State.
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A balance is the amount of debt owed; a monthly payment is what a borrower pays over a billing period. The $40,666 balance figure is not WalletHub’s payment statistic, and it does not establish what a typical New York borrower pays each month.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the report does—and does not—establish
WalletHub describes its calculation as a median payment per user by state based on its latest consumer-finance data. Its surfaced explanation does not name an external dataset or specify the sample size, observation window, weighting, or state-level sampling details. The ranking therefore should not be treated as a census of all borrowers or as a government statistic. It also does not show that a $242 payment is typical for every New York borrower.
WalletHub analyst Chip Lupo offered a separate repayment illustration: paying off roughly $40,500 over 20 years at a fixed 6.52% rate would require about $302 per month. This is an illustrative calculation in WalletHub’s report, not New York’s median payment and not individualized financial guidance.
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