Student debt is not a foreign concept to many of us. A college education is an incredible opportunity, but so many students wait years after graduating to truly reap the benefits because they're so focused on paying off student debt.

Even though a four-year university isn't always the next step out of high school for most, some students desire a university experience. It's just disappointing that sometimes you have to choose between the school and the cost.

Well, if you're looking for a great state to spend four years of college in, and you don't want to spend an arm and a leg on student loans, Colorado is statistically one of the best states you can choose for college.

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In a report from WalletHub, Colorado ranked as the ninth state with the least student debt. WalletHub looked at factors like average student debt and student debt as a share of the income to evaluate the rankings. Wyoming and New Mexico also ranked in the top ten states with the lowest student debt.

Wallet Hub

WalletHub took the opportunity in the study to talk to experts about advice and insight into student debt. The experts spoke a lot about tips for students to minimize the amount of debt they take on after receiving higher education.

Professor Stanley S. Litow, an adjunct professor at Duke University, suggests a system more tailored to offering college courses while in the high school system to complete college at a quicker pace, therefore spending less college-level money.

Doctor Xiaoqing Eleanor Xu, a professor of finance at Seton Hall University, says the key for families and students individually is to increase their financial literacy. Apply for as many merit and need-based grants as you can before considering taking on debt.

College on its own can be stressful and confusing, and student debt is just one more thing to add to the worry. Universities can do their part by being more upfront about loans and financial aid so students can make more informed decisions about their future.

LOOK: Here are 25 ways you could start saving money today

These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]