Here Are The States Where Your Debt Is Most Expensive

Washington DC
Your debt will cost you the most in Washington D.C. Flickr / www.GlynLowe.com

Over the course of a lifetime, the typical American will end up paying $US279,002 in interest on their loans.

And if you live in Washington D.C., that number is even higher.

According to a Credit.com study, a typical D.C. resident will pay $US451,890 in interest over the course of their lifetime.

Iowa, on the other hand, is the state with the lowest lifetime cost of debt — meaning a typical resident will pay $US129,394 in interest.

If you’re thinking of running away from your debt, to, say, Hawaii, think again. The Aloha State actually has the third highest cost of lifetime debt ($US312,747).

You might want to retreat to the Midwest instead — think Wisconsin — or some parts of the East Coast like Maine and Pennsylvania.

Here are the 10 states with the highest lifetime cost of debt:

States With Highest Lifetime Cost of Debt

And here are the 10 states with the lowest lifetime cost of debt:

 

States With Lowest Lifetime Cost of Debt

To see the full methodology, visit Credit.com.