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Average Student Loan Debt by State in 2023

By Constance Brinkley-Badgett · September 14, 2023 · 7 minute read

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Average Student Loan Debt by State in 2023

Student loan debt nationwide currently totals $1.774 trillion (including federal and private student loans). The average federal student loan debt balance is $37,717 while the total average balance (including private student loans) is estimated to be $40,505, according to EducationData.org.

Student loan debt is now the second highest consumer debt category in the country behind only housing debt. Around 54% of bachelor’s degree recipients from public and private nonprofit four-year colleges and universities graduate with debt, according to the College Board.

A recent report from EducationData.org details the average student loan debt per borrower (based on federal student loan only) in each state. Overall, residents of Washington, D.C., are the most likely of all U.S. residents to have student debt, averaging $54,945 per borrower. Hawaiians, on the other hand, are the least likely to have student loans outstanding, with just 8.4% of residents in debt.

Student Loan Debt in Each State

Read on for an overview of what student loan debt looks like across the country according to EducationData.org . Note that this data refers to federal student loan debt only; private student loans, which represent 7.2% of all student debt, are not reflected.

Alabama

Average borrower debt: $37,137

Total student loan debt: $23.5 billion

Everything you need to know about student loans & scholarships in Alabama

Alaska

Average borrower debt: $34,024

Total student loan debt: $23.5 billion

Everything you need to know about student loans & scholarships in Alaska

Arizona

Average borrower debt: $35,396

Total student loan debt: $31.4 billion

Everything you need to know about student loans & scholarships in Arizona

Arkansas

Average borrower debt: $33,333

Total student loan debt: $13.0 billion

Everything you need to know about student loans & scholarships in Arkansas

California

Average borrower debt: $37,084

Total student loan debt: $141.8 billion

Everything you need to know about student loans & scholarships in California

Colorado

Average borrower debt: $36,822

Total student loan debt: $28.5 billion

Everything you need to know about student loans & scholarships in Colorado

Connecticut

Average borrower debt: $35,162

Total student loan debt: $17.5 billion

Everything you need to know about student loans & scholarships in Connecticut

Delaware

Average borrower debt: $37,559

Total student loan debt: $4.8 billion

Everything you need to know about student loans & scholarships in Delaware

District of Columbia

Average borrower debt: $54,945

Total student loan debt: $6.5 billion

Everything you need to know about student loans & scholarships in Washington D.C.

Florida

Average borrower debt: $38,459

Total student loan debt: $100.9 billion

Everything you need to know about student loans & scholarships in Florida

Georgia

Average borrower debt: $41,639

Total student loan debt: $68.6 billion

Everything you need to know about student loans & scholarships in Georgia

Hawaii

Average borrower debt: $36,765

Total student loan debt: $4.5 billion

Everything you need to know about student loans & scholarships in Hawaii

Idaho

Average borrower debt: $33,012

Total student loan debt: $7.2 billion

Everything you need to know about student loans & scholarships in Idaho

Illinois

Average borrower debt: $37,757

Total student loan debt: $61.6 billion

Everything you need to know about student loans & scholarships in Illinois

Indiana

Average borrower debt: $32,874

Total student loan debt: $29.8 billion

Everything you need to know about student loans & scholarships in Indiana

Iowa

Average borrower debt: $30,464

Total student loan debt: $13.2 billion

Everything you need to know about student loans & scholarships in Iowa

Kansas

Average borrower debt: $32,578

Total student loan debt: $12.5 billion

Everything you need to know about student loans & scholarships in Kansas

Kentucky

Average borrower debt: $32,779

Total student loan debt: $19.7 billion

Everything you need to know about student loans & scholarships in Kentucky

Louisiana

Average borrower debt: $34,525

Total student loan debt: $22.5 billion

Everything you need to know about student loans & scholarships in Louisiana

Maine

Average borrower debt: $33,137

Total student loan debt: $6.2 billion

Everything you need to know about student loans & scholarships in Maine

Maryland

Average borrower debt: $42,861

Total student loan debt: $35.9 billion

Everything you need to know about student loans & scholarships in Maryland

Massachusetts

Average borrower debt: $34,146

Total student loan debt: $30.8 billion

Everything you need to know about student loans & scholarships in Massachusetts

Michigan

Average borrower debt: $36,116

Total student loan debt: $51.0 billion

Everything you need to know about student loans & scholarships in Michigan

Minnesota

Average borrower debt: $33,604

Total student loan debt: $26.5 billion

Everything you need to know about student loans & scholarships in Minnesota

Mississippi

Average borrower debt: $36,902

Total student loan debt: $16.2 billion

Everything you need to know about student loans & scholarships in Mississippi

Missouri

Average borrower debt: $35,397

Total student loan debt: $29.3 billion

Everything you need to know about student loans & scholarships in Missouri

Montana

Average borrower debt: $33,149

Total student loan debt: $4.2 billion

Everything you need to know about student loans & scholarships in Montana

Nebraska

Average borrower debt: $31,919

Total student loan debt: $7.9 billion

Everything you need to know about student loans & scholarships in Nebraska

Nevada

Average borrower debt: $33,743

Total student loan debt: $11.8 billion

Everything you need to know about student loans & scholarships in Nevada

New Hampshire

Average borrower debt: $34,085

Total student loan debt: $6.5 billion

Everything you need to know about student loans & scholarships in New Hampshire

New Jersey

Average borrower debt: $35,434

Total student loan debt: $42.5 billion

Everything you need to know about student loans & scholarships in New Jersey

New Mexico

Average borrower debt: $34,211

Total student loan debt: $7.8 billion

Everything you need to know about student loans & scholarships in New Mexico

New York

Average borrower debt: $37,678

Total student loan debt: $92.7 billion

Everything you need to know about student loans & scholarships in New York

North Carolina

Average borrower debt: $37,721

Total student loan debt: $49.2 billion

Everything you need to know about student loans & scholarships in North Carolina

North Dakota

Average borrower debt: $28,604

Total student loan debt: $2.5 billion

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Ohio

Average borrower debt: $34,721

Total student loan debt: $62.3 billion

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Oklahoma

Average borrower debt: $31,525

Total student loan debt: $15.4 billion

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Oregon

Average borrower debt: $37,017

Total student loan debt: $20.1 billion

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Pennsylvania

Average borrower debt: $35,385

Total student loan debt: $64.5 billion

Everything you need to know about student loans & scholarships in Pennsylvania

Rhode Island

Average borrower debt: $32,056

Total student loan debt: $4.6 billion

Everything you need to know about student loans & scholarships in Rhode Island

South Carolina

Average borrower debt: $38,414

Total student loan debt: $28.1 billion

Everything you need to know about student loans & scholarships in South Carolina

South Dakota

Average borrower debt: $30,954

Total student loan debt: $3.6 billion

Everything you need to know about student loans & scholarships in South Dakota

Tennessee

Average borrower debt: $36,418

Total student loan debt: $31.4 billion

Everything you need to know about student loans & scholarships in Tennessee

Texas

Average borrower debt: $32,920

Total student loan debt: $120.0 billion

Everything you need to know about student loans & scholarships in Texas

Utah

Average borrower debt: $32,835

Total student loan debt: $10.1 billion

Everything you need to know about student loans & scholarships in Utah

Vermont

Average borrower debt: $37,516

Total student loan debt: $2.9 billion

Everything you need to know about student loans & scholarships in Vermont

Virginia

Average borrower debt: $39,165

Total student loan debt: $42.4 billion

Everything you need to know about student loans & scholarships in Virginia

Washington

Average borrower debt: $35,510

Total student loan debt: $28.0 billion

Everything you need to know about student loans & scholarships in Washington

West Virginia

Average borrower debt: $31,690

Total student loan debt: $7.2 billion

Everything you need to know about student loans & scholarships in West Virginia

Wisconsin

Average borrower debt: $31,894

Total student loan debt: $23.2 billion

Everything you need to know about student loans & scholarships in Wisconsin

Wyoming

Average borrower debt: $31,250

Total student loan debt: $1.7 billion

Everything you need to know about student loans & scholarships in Wyoming

The Takeaway

The average amount of debt held by borrowers varies from state to state. The five states with the highest average amount of student loan debt per borrower are: Washington D.C., Maryland, Georgia, Virginia, and Florida. The five states with the lowest average of student loans per borrower are: Wyoming, South Dakota, Iowa, North Dakota, and Puerto Rico. North Dakota is the only state where the average borrower owes less than $30,000.

For millions, student loans and student loan refinances are a necessary part of paying for college. When federal aid and savings aren’t enough to pay for school, some borrowers turn to private student loans. These are available from banks, credit unions, and online lenders. While private lenders are not required to offer the same benefits or protections as federal student loans, they can be helpful for borrowers who have tapped other resources and are looking to fill in gaps in funding.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.


Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.


Photo credit: iStock/FangXiaNuo

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