Rhode Island is the worst state in the country for students with debt, according to a new report.

The personal finance network WalletHub ranked each state based on factors like unemployment rates and amount of debt upon graduation. Rhode Island has the third-highest unemployment rate, which was at 7.7 percent in August.

"Many graduates entering the labor market are realizing the hard way that a college degree can't guarantee financial security," WalletHub wrote. "Post-college success depends on numerous factors, an important one being location. Student loan borrowers will fare better in states that produce a combination of lower college-related debt levels, stronger economies and higher incomes.