Here Are The States Where Your Debt Is Most Expensive

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. < rephrased bc “lifetime cost of debt” is v unclear

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:

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

 

To see the full methodology, visit Credit.com.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.