A Look at Americans’ Student Loan Debt by State

A Look at Americans’ Student Loan Debt by State

michaeljung / Getty Images/iStockphoto

michaeljung / Getty Images/iStockphoto

In his first days in workplace, President Joe Biden signed an government order extending the student loan reduction portion of the CARES Act, initially enacted through the Trump administration. The loan reduction, which was carried out to assist these struggling financially amid the coronavirus pandemic, has given 42 million individuals with federal student loans a trip on making student loan funds and positioned a freeze on curiosity.

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This has stirred up discuss amongst lawmakers about the potential for canceling not less than some portion of student debt, which might put cash that might have gone to loan funds again within the economic system. Such an act would supply extra everlasting reduction to student loan debtors from coast to coast, with the influence being felt extra closely in some states than others. Congress has but to introduce a invoice, and the president is ready for the U.S. Department of Education to find out whether or not he might use government authority to cancel debt.

GOBankingRates compiled data from the newest annual report by The Institute for College Access and Success to indicate how student loan debt varies from area to area. The research goes from the state with the bottom common complete for student loan debt to the best, together with the share of the entire inhabitants of 2019 graduates with excellent loans.

So are your neighbors extra prone to be sweating out how they’ll pay down their large loans?

Here’s a more in-depth have a look at the states which have the most individuals praying for the day when their student debt is canceled.

Last up to date: June 22, 2021

50. Utah

  • Average student loan debt: $17,935

  • Percentage of individuals with student loan debt: 40%

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Iowa City, USA - October 8, 2011: The Old Capitol building on the Pentacrest on the campus of the University of Iowa.

Iowa City, USA – October 8, 2011: The Old Capitol constructing on the Pentacrest on the campus of the University of Iowa.

49. Iowa

  • Average student loan debt: $20,259

  • Percentage of individuals with student loan debt: 63%

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48. New Mexico

  • Average student loan debt: $20,991

  • Percentage of individuals with student loan debt: 45%

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47. Nevada

  • Average student loan debt: $21,254

  • Percentage of individuals with student loan debt: 46%

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46. California

  • Average student loan debt: $21,485

  • Percentage of individuals with student loan debt: 47%

45. Wyoming

  • Average student loan debt: $23,444

  • Percentage of individuals with student loan debt: 46%

44. Hawaii

  • Average student loan debt: $23,577

  • Percentage of individuals with student loan debt: 43%

43. Florida

  • Average student loan debt: $24,629

  • Percentage of individuals with student loan debt: 48%

42. Washington

  • Average student loan debt: $24,645

  • Percentage of individuals with student loan debt: 50%

Students walk in front of the Arizona State Museum on the University of Arizona Campus in Tucson Arizona USA.

Students stroll in entrance of the Arizona State Museum on the University of Arizona Campus in Tucson Arizona USA.

41. Arizona

  • Average student loan debt: $24,712

  • Percentage of individuals with student loan debt: 49%

40. Louisiana

  • Average student loan debt: $25,512

  • Percentage of individuals with student loan debt: 48%

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39. Oklahoma

  • Average student loan debt: $25,793

  • Percentage of individuals with student loan debt: 47%

Alaska, USA - August 12, 2016: Downtown Juneau with flowers in the foreground with painted wooden storefront buildings and the Red Dog Saloon.

Alaska, USA – August 12, 2016: Downtown Juneau with flowers within the foreground with painted wood storefront buildings and the Red Dog Saloon.

38. Alaska

  • Average student loan debt: $25,925

  • Percentage of individuals with student loan debt: 48%

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University-of-Idaho

University-of-Idaho

37. Idaho

  • Average student loan debt: $25,942

  • Percentage of individuals with student loan debt: 60%

10913, Nebraska

10913, Nebraska

36. Nebraska

  • Average student loan debt: $26,026

  • Percentage of individuals with student loan debt: 57%

University-of-Colorado-Boulder

University-of-Colorado-Boulder

35. Colorado

  • Average student loan debt: $26,562

  • Percentage of individuals with student loan debt: 50%

34. North Carolina

  • Average student loan debt: $26,583

  • Percentage of individuals with student loan debt: 55%

University of Arkansas campus

University of Arkansas campus

33. Arkansas

  • Average student loan debt: $26,679

  • Percentage of individuals with student loan debt: 53%

"Dyche Hall Museum of Natural History, University of Kansas, Lawrence, Kansas.

“Dyche Hall Museum of Natural History, University of Kansas, Lawrence, Kansas.

32. Kansas

  • Average student loan debt: $26,788

  • Percentage of people with student loan debt: 60%

31. Texas

  • Average student loan debt: $26,951

  • Percentage of people with student loan debt: 48%

10913, Montana

10913, Montana

30. Montana

  • Average student loan debt: $27,265

  • Percentage of people with student loan debt: 57%

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University of Tennessee Knoxville

University of Tennessee Knoxville

29. Tennessee

  • Average student loan debt: $27,525

  • Percentage of people with student loan debt: 60%

28. Oregon

  • Average student loan debt: $27,542

  • Percentage of people with student loan debt: 54%

10913, Georgia

10913, Georgia

27. Georgia

  • Average student loan debt: $28,081

  • Percentage of people with student loan debt: 56%

26. Indiana

  • Average student loan debt: $28,112

  • Percentage of people with student loan debt: 59%

10913, kentucky

10913, kentucky

25. Kentucky

  • Average student loan debt: $28,482

  • Percentage of people with student loan debt: 58%

University of Missouri

University of Missouri

24. Missouri

  • Average student loan debt: $28,740

  • Percentage of people with student loan debt: 57%

West Virginia University

West Virginia University

23. West Virginia

  • Average student loan debt: $29,272

  • Percentage of people with student loan debt: 67%

10913, Illinois

10913, Illinois

22. Illinois

  • Average student loan debt: $29,666

  • Percentage of people with student loan debt: 61%

21. Alabama

  • Average student loan debt: $29,791

  • Percentage of people with student loan debt: 50%

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Ohio-State-University-Columbus

Ohio-State-University-Columbus

20. Ohio

  • Average student loan debt: $29,886

  • Percentage of people with student loan debt: 60%

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19. Maryland

  • Average student loan debt: $30,303

  • Percentage of people with student loan debt: 53%

18. Vermont

  • Average student loan debt: $30,566

  • Percentage of people with student loan debt: 60%

17. Virginia

  • Average student loan debt: $30,574

  • Percentage of people with student loan debt: 56%

10913, Michigan

10913, Michigan

16. Michigan

  • Average student loan debt: $30,677

  • Percentage of people with student loan debt: 59%

15. New York

  • Average student loan debt: $31,155

  • Percentage of people with student loan debt: 58%

14. South Carolina

  • Average student loan debt: $31,524

  • Percentage of people with student loan debt: 60%

13. Wisconsin

  • Average student loan debt: $31,550

  • Percentage of people with student loan debt: 64%

12. Mississippi

  • Average student loan debt: $31,651

  • Percentage of people with student loan debt: 55%

11. South Dakota

  • Average student loan debt: $31,653

  • Percentage of people with student loan debt: 74%

10. Minnesota

  • Average student loan debt: $31,856

  • Percentage of people with student loan debt: 66%

Mayville State University North Dakota

Mayville State University North Dakota

9. North Dakota

  • Average student loan debt: $32,745

  • Percentage of people with student loan debt: 64%

Massachusetts Institute of Technology

Massachusetts Institute of Technology

8. Massachusetts

  • Average student loan debt: $33,256

  • Percentage of people with student loan debt: 55%

Camden, New Jersey, USA - October 31, 2016: Daytime view of the 330 Cooper residence hall and adjacent buildings on the Rutgers University Camden campus.

Camden, New Jersey, USA – October 31, 2016: Daytime view of the 330 Cooper residence hall and adjacent buildings on the Rutgers University Camden campus.

7. New Jersey

  • Average student loan debt: $33,566

  • Percentage of people with student loan debt: 64%

6. Maine

  • Average student loan debt: $33,591

  • Percentage of people with student loan debt: 67%

Recitation Hall at the University of Delaware in Newark, Delaware.

Recitation Hall at the University of Delaware in Newark, Delaware.

5. Delaware

  • Average student loan debt: $37,447

  • Percentage of people with student loan debt: 59%

4. Rhode Island

  • Average student loan debt: $37,614

  • Percentage of people with student loan debt: 59%

Yale Univesrity Connecticut

Yale Univesrity Connecticut

3. Connecticut

  • Average student loan debt: $38,546

  • Percentage of people with student loan debt: 56%

2. Pennsylvania

  • Average student loan debt: $39,027

  • Percentage of people with student loan debt: 65%

1. New Hampshire

  • Average student loan debt: $39,410

  • Percentage of individuals with student loan debt: 74%

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Joel Anderson contributed to the reporting for this text.

Methodology: GOBankingRates used information from The Institute for College Access and Success’s most up-to-date annual report on student debt to search out the typical debt held by graduates in every state and the share of 2019 graduates in every state who carry any student debt. All information was collected on June 1, 2021.

Photo Disclaimer: Please notice photographs are for representational functions solely.

This article initially appeared on GOBankingRates.com: A Look at Americans’ Student Loan Debt by State