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How Much Student Loan Debt Is In Your State

Here’s how much student loan debt is in your state.

Here’s what you need to know.

Student Loans

The Institute for College Access and Success (TICAS) released its annual student debt report for the Class of 2020. The reports explores student loans, the differences in student debt across states, and recommendations on how to help borrowers manage student loans. President Joe Biden has canceled $ 11.5 billion of student loans since becoming president. The US Department of Education also has taken unprecedented steps to help more student loan borrowers get student loan forgiveness and make student loan repayment simpler. Let’s explore how much student loan debt is in your state – and how to lower your student loan balance. (Do 3 things for your student loans right now).


Student loans by state

The Biden administration has taken several steps to reduce student loan debt for borrowers. This includes $ 2 billion of student loans that will be canceled within weeks. If you haven’t received student loan forgiveness, there are still opportunities to apply for student loan forgiveness. (How to apply for student loan forgiveness during the Biden administration). Even with these efforts, student loan borrowers in every state still hold student loan debt. New Hampshire is the state with the highest average student loan debt ($ 39,928). Utah has the lowest average student loan debt ($ 18,344). Here is a breakdown of student loans by state, including how many student loan borrowers are impacted. (How to qualify for automatic student loan forgiveness).

Alabama

Average Student Debt: $ 30,996

% of Graduates With Student Debt: 51%

% of Graduates With Private Student Loans: 12%


Alaska

Average Student Debt: $ 26,356

% of Graduates With Student Debt: 47%

% of Graduates With Private Student Loans: 4%


Arizona

Average Student Debt: $ 24,298

% of Graduates With Student Debt: 47%

% of Graduates With Private Student Loans: 7%


Arkansas

Average Student Debt: $ 27,319

% of Graduates With Student Debt: 54%

% of Graduates With Private Student Loans: 8%


California

Average Student Debt: $ 21,125

% of Graduates With Student Debt: 46%

% of Graduates With Private Student Loans: 5%


Colorado

Average Student Debt: $ 26,424

% of Graduates With Student Debt: 49%

% of Graduates With Private Student Loans: 9%


Connecticut

Average Student Debt: $ 35,853

% of Graduates With Student Debt: 57%

% of Graduates With Private Student Loans: 17%


Delaware

Average Student Debt: $ 39,705

% of Graduates With Student Debt: 60%

% of Graduates With Private Student Loans: 21%


Florida

Average Student Debt: $ 24,454

% of Graduates With Student Debt: 47%

% of Graduates With Private Student Loans: 6%


Georgia

Average Student Debt: $ 27,759

% of Graduates With Student Debt: 56%

% of Graduates With Private Student Loans: 7%


Hawaii

Average Student Debt: $ 24,926

% of Graduates With Student Debt: 45%

% of Graduates With Private Student Loans: 6%


Idaho

Average Student Debt: $ 24,983

% of Graduates With Student Debt: 58%

% of Graduates With Private Student Loans: 7%


Illinois

Average Student Debt: $ 28,552

% of Graduates With Student Debt: 57%

% of Graduates With Private Student Loans: 10%


Indiana

Average Student Debt: $ 28,521

% of Graduates With Student Debt: 57%

% of Graduates With Private Student Loans: 13%


Iowa

Average Student Debt: $ 29,560

% of Graduates With Student Debt: 60%

% of Graduates With Private Student Loans: 14%


Kansas

Average Student Debt: $ 26,002

% of Graduates With Student Debt: 60%

% of Graduates With Private Student Loans: 8%


Kentucky

Average Student Debt: $ 28,356

% of Graduates With Student Debt: 61%

% of Graduates With Private Student Loans: 11%


Louisiana

Average Student Debt: $ 26,284

% of Graduates With Student Debt: 53%

% of Graduates With Private Student Loans: 6%


Maine

Average Student Debt: $ 32,764

% of Graduates With Student Debt: 63%

% of Graduates With Private Student Loans: 18%


Maryland

Average Student Debt: $ 30,461

% of Graduates With Student Debt: 55%

% of Graduates With Private Student Loans: 12%


Massachusetts

Average Student Debt: $ 33,457

% of Graduates With Student Debt: 56%

% of Graduates With Private Student Loans: 14%


Michigan

Average Student Debt: $ 29,863

% of Graduates With Student Debt: 58%

% of Graduates With Private Student Loans: 11%


Minnesota

Average Student Debt: $ 32,012

% of Graduates With Student Debt: 64%

% of Graduates With Private Student Loans: 16%


Mississippi

Average Student Debt: $ 29,714

% of Graduates With Student Debt: 58%

% of Graduates With Private Student Loans: 10%


Missouri

Average Student Debt: $ 28,713

% of Graduates With Student Debt: 56%

% of Graduates With Private Student Loans: 11%


Montana

Average Student Debt: $ 27,114

% of Graduates With Student Debt: 55%

% of Graduates With Private Student Loans: 7%


Nebraska

Average Student Debt: $ 26,781

% of Graduates With Student Debt: 60%

% of Graduates With Private Student Loans: 10%


Nevada

Average Student Debt: $ 21,357

% of Graduates With Student Debt: 46%

% of Graduates With Private Student Loans: 4%


New Hampshire

Average Student Debt: $ 39,928

% of Graduates With Student Debt: 70%

% of Graduates With Private Student Loans: 25%


New Jersey

Average Student Debt: $ 35,117

% of Graduates With Student Debt: 63%

% of Graduates With Private Student Loans: 15%


New Mexico

Average Student Debt: $ 20,868

% of Graduates With Student Debt: 45%

% of Graduates With Private Student Loans: 6%


New York

Average Student Debt: $ 30,951

% of Graduates With Student Debt: 54%

% of Graduates With Private Student Loans: 12%


North Carolina

Average Student Debt: $ 29,681

% of Graduates With Student Debt: 55%

% of Graduates With Private Student Loans: 9%


North Dakota

Average Student Debt: $ 31,939

% of Graduates With Student Debt: 66%

% of Graduates With Private Student Loans: 27%


Ohio

Average Student Debt: $ 30,605

% of Graduates With Student Debt: 59%

% of Graduates With Private Student Loans: 13%


Oklahoma

Average Student Debt: $ 27,876

% of Graduates With Student Debt: 50%

% of Graduates With Private Student Loans: 9%


Oregon

Average Student Debt: $ 26,504

% of Graduates With Student Debt: 53%

% of Graduates With Private Student Loans: 8%


Pennsylvania

Average Student Debt: $ 39,375

% of Graduates With Student Debt: 64%

% of Graduates With Private Student Loans: 22%


Rhode Island

Average Student Debt: $ 36,791

% of Graduates With Student Debt: 64%

% of Graduates With Private Student Loans: 20%


South Carolina

Average Student Debt: $ 32,635

% of Graduates With Student Debt: 60%

% of Graduates With Private Student Loans: 15%


South Dakota

Average Student Debt: $ 32,029

% of Graduates With Student Debt: 73%

% of Graduates With Private Student Loans: 20%


Tennessee

Average Student Debt: $ 26,852

% of Graduates With Student Debt: 53%

% of Graduates With Private Student Loans: 7%


Texas

Average Student Debt: $ 26,273

% of Graduates With Student Debt: 52%

% of Graduates With Private Student Loans: 6%


Utah

Average Student Debt: $ 18,344

% of Graduates With Student Debt: 39%

% of Graduates With Private Student Loans: 3%


Vermont

Average Student Debt: $ 34,866

% of Graduates With Student Debt: 57%

% of Graduates With Private Student Loans: 17%


Virginia

Average Student Debt: $ 29,616

% of Graduates With Student Debt: 55%

% of Graduates With Private Student Loans: 14%


Washington

Average Student Debt: $ 23,993

% of Graduates With Student Debt: 47%

% of Graduates With Private Student Loans: 6%


Washington, DC

Average Student Debt: $ 32,966

% of Graduates With Student Debt: 46%

% of Graduates With Private Student Loans: 10%


West Virginia

Average Student Debt: $ 29,208

% of Graduates With Student Debt: 66%

% of Graduates With Private Student Loans: 13%


Wisconsin

Average Student Debt: $ 30,270

% of Graduates With Student Debt: 66%

% of Graduates With Private Student Loans: 15%


Wyoming

Average Student Debt: $ 23,510

% of Graduates With Student Debt: 48%

% of Graduates With Private Student Loans: 9%


Student loans: recommendations

The report also highlights several ways to reduce student loan debt. These recommendations include, among others:

  • College Accountability: require colleges to reduce the burden of student loans;
  • Income-Driven Repayment: promote awareness of income-driven repayment plans for federal student loans;
  • Financial Aid: state grant aid should be need-based, not merit-based; and
  • Student Loans Counseling: colleges should provide counseling to students who borrow student loans so they understand the full cost of a college education.

Today, according to the latest student loan debt statistics, 45 million borrowers collectively owe $ 1.7 trillion of student loans. Due to student loan relief as a result of the Covid-19 pandemic, student loan borrowers also have not been required to make any federal student loan payments since March 2020. (These borrowers do not qualify for limited student loan forgiveness). Effective January 31, 2022, however, federal student loan payments will resume at their normal interest rate. With the end of this temporary student loan relief, make sure you are prepared for this major change and understand all your options for student loan payments. Here are some popular ways to pay off student loans and save money:


Student Loans: Related Reading

If you want student loan forgiveness, do these 5 steps

How to apply for limited student loan forgiveness

Education Department will cancel $ 2 billion of student loans

Here’s who qualifies for student loan forgiveness right now

.

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