This fall, millions of Americans will once again have to dedicate a portion of their budget to student loans.
Federal student loan interest will begin accruing in September, and payments will resume in October, following a three-year pause due to the COVID-19 pandemic and the end of a student loan forgiveness plan recently blocked by the U.S. Supreme Court.
That could be a bigger challenge for borrowers in certain places. Recently, chamberofcommerce.org analyzed federal data to determine the average outstanding student loan balance in every state, Washington, D.C., and the territory of Puerto Rico.
Following are the places where people have the highest average student loan debt.
10. California
Average student loan debt owed by people in this state: $37,223
People with student loan debt in this state: 3,696,600
Total student loan debt owed by people in this state: $137.6 billion
The University of California estimates a year of tuition alone will cost state residents about $14,000 in the 2023-24 academic year. At the private University of Southern California in Los Angeles, one year’s tuition is just under $67,000.
9. Vermont
Average student loan debt owed by people in this state: $37,284
People with student loan debt in this state: 75,100
Total student loan debt owed by people in this state: $2.8 billion
Vermont has the most expensive average college tuition in the U.S., according to the Burlington Free Press: $28,756 per year for tuiton and living expenses. Middlebury College tuition will set you back about $65,000 per year, although the school’s generous financial aid can soften the blow for those eligible.
8. Hawaii
Average student loan debt owed by people in this state: $37,294
People with student loan debt in this state: 115,300
Total student loan debt owed by people in this state: $4.3 billion
Hawaii is known for its high cost of living, and college is no exception. In-state tuition for 2023-2024 at the University of Hawaii is $11,000.
7. New York
Average student loan debt owed by people in this state: $37,673
People with student loan debt in this state: 2,359,800
Total student loan debt owed by people in this state: $88.9 billion
Five of the 20 most expensive colleges in the country are in the state of New York, according to one analysis. That includes Pulitzer Prize-awarding Columbia University, where tuition and fees are about $66,000 per year.
6. Illinois
Average student loan debt owed by people in this state: $37,750
People with student loan debt in this state: 1,562,900
Total student loan debt owed by people in this state: $59 billion
Illinois is the first state on this list where the average student loan debt is higher than the national average, which is $37,717. Tuition at elite Northwestern University is about $22,000 — per quarter.
5. Florida
Average student loan debt owed by people in this state: $37,848
People with student loan debt in this state: 2,531,200
Total student loan debt owed by people in this state: $95.8 billion
The University of Florida estimates a year of tuition costs around $6,000 — not cheap, but lower than at every other school mentioned so far. At the other end of the state’s spectrum is the University of Miami, where a year of tuition is about $58,000.
4. Virginia
Average student loan debt owed by people in this state: $38,679
People with student loan debt in this state: 1,060,000
Total student loan debt owed by people in this state: $41 billion
Virginia Tech charges about $13,000 a year for tuition at the in-state rate. Liberty University comes close to doubling that, at about $24,000 per year.
3. Georgia
Average student loan debt owed by people in this state: $40,438
People with student loan debt in this state: 1,607,400
Total student loan debt owed by people in this state: $65 billion
The University of Georgia‘s published tuition and fees are about $12,000 per year for residents. Students at Emory University, meanwhile, can expect tuition on the order of $60,000 per year.
2. Maryland
Average student loan debt owed by people in this state: $42,666
People with student loan debt in this state: 808,600
Total student loan debt owed by people in this state: $34.5 billion
The University of Maryland at College Park, one of “9 Colleges That Offer Free Tuition for Seniors,” doesn’t extend that courtesy to fresh-faced high school graduates. Full-time in-state undergrads pay around $6,000 in tuition and fees per semester.
1. Washington, D.C.
Average student loan debt owed by people in this area: $54,856
People with student loan debt in this area: 111,200
Total student loan debt owed by people in this area: $6.1 billion
In the nation’s capital, 61% of adults age 25 or older have a college degree. More than 35% of residents have a graduate or professional degree. Students at Georgetown University pay more than $65,000 per year, although the school boasts the average starting salary for its graduates was $62,000 as of 2018.
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