Here's The Average Amount Of Student Loan Debt In All 50 States
There's a $30K-sized hole in many peoples' wallets and it's called student loan debt.
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Nowadays, it feels as if more and more people have one glaring thing in common: student loan debt. And while federal student debt payments have been deferred through Sept. 30, 2021, the forbearance hasn't alleviated the anxiety of many federal borrowers who are wondering how they'll afford to start making payments again — or any anxiety at all for people with private loans.
With all that in mind, it's no wonder #CancelStudentDebt started trending after Democrats proposed a plan to wipe out $50K for every federal student loan borrower. So we got curious about the average amount of student debt borrowers have in each state and calculated those numbers using data from the office of Federal Student Aid.
Remember, these numbers are averages, so it's totally possible that you (or someone you know) have a loan balance that's higher or lower than what you see here. It might be hard to really process the size of these debt balances, so we figured out how many months rent these balances could afford you (using Zillow data on the median monthly cost of rent for an apartment in each state).
FYI, this data does not include private student loan balances.