A recent study by the analysts at WalletHub shows Birmingham is within the top two percent of the most debt-stricken cities in the country.
The consumer finance website conducted their study by weighing median incomes against average loan amounts in 2,513 cities in the U.S. The report found that there were 10 cities in Alabama where resident’s incomes are insufficient for paying student loan debt. For example, a typical Birmingham resident between 25 and 44-years-old with an annual income of $33,081 has an average student loan debt of $35,893. Birmingham ranked third worse in a list of 10 Alabama cities where average student loan debt is higher than annual income.
If you are struggling to pay your student loan debt in Birmingham, a lawyer at Greenway Bankruptcy Law, LLC may be able to help you. Our lawyers work to make it possible for you to have a fresh financial start. Learn more about your personal financial options by calling (205) 324-4000.