Chattanooga ranked on list of cities where student loan delinquency rates are highest
Chattanooga is on a new list, and it is not one the city would want to be on.
Student Loan Hero, a company helping borrowers manage student loan debt, ranked Chattanooga number six on its list of the top ten places where student loan delinquency is the highest.
"Although the student loan crisis is a national one, Student Loan Hero wanted to see if borrowers in some geographic areas are struggling to repay their loans more than those in others," a Student Loan Hero spokesperson explained. "To find out, we took a close look across the 100 largest metros to see what proportion of student loan borrowers were more than 90 days delinquent on their debt — and the results were striking."
The company says 22.2 percent of Chattanoogans have fallen behind on their loans by 90 or more days at least once.
"Delinquency on student loan payments can lead to default, causing long-term damage to credit scores and even lead to wage garnishment," a Student Loan Hero spokesperson explained.
Memphis was also among the top ten coming in at number four.
Here is the full list:
1. Jackson, MS
2. Winter Haven, FL
3. Daytona Beach, FL
4. Memphis, TN
5. Toledo, OH
6. Chattanooga, TN
6. Jacksonville, FL
6. Miami, FL
9. New Orleans, LA
10. Baton Rouge, LA
To view the full list and to learn more, visit Student Loan Hero's website.