The median monthly student loan payment among New York users of WalletHub's financial tools is $242, the seventh-highest figure in the country, according to a new state-by-state analysis.
The WalletHub report published Thursday ranks states by the median payment per user in its consumer-finance data. It does not say how many users were included, when their payments were measured or whether they represent all borrowers in each state.
How New York compares
Vermont had the highest median payment at $258 a month, followed by Massachusetts at $250. Maryland and New Hampshire were tied at $249; Connecticut was at $247 and New Jersey at $246. New York's $242 figure was $4 below New Jersey's and $4 above Illinois' $238. Wyoming had the lowest median, at $160.
New York's figure was $229 and its rank was sixth in WalletHub's 2025 analysis. The reported median is $13 higher this year, even as the state slipped one place in the ranking. Those are comparisons between two annual snapshots, not evidence that any particular borrower's bill rose by $13.
The study is statewide; it does not provide a separate figure for the Finger Lakes or break payments down by county, income, loan type or repayment plan. The median is the middle payment in the measured group. It is not an average balance or a measure of the share of residents carrying student debt.
What the figures do and do not show
WalletHub says it used its latest consumer-finance data to calculate the median student loan payment per user in each of the 50 states, then ranked the states by those amounts. The report does not publish a state sample size, a collection period or an explanation of how its users compare with the broader borrower population. Those omissions limit what the ranking can say about a typical New York borrower.
The company also notes that a monthly payment is only one part of the cost of a loan. In commentary accompanying the report, WalletHub analyst Chip Lupo says a roughly $40,500 balance at a fixed 6.52% interest rate would require a payment of about $302 a month to pay off in 20 years. That is an illustrative calculation, not the repayment schedule for New York borrowers as a group.
WalletHub advises borrowers to review their budgets and investigate repayment or forgiveness programs that may apply to them. Eligibility and payment amounts depend on each loan and borrower, so the state median does not determine an individual's options.
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