States Ranked by Average Federal Student Loan Debt

For millions of Americans, the cost of a college education doesn’t end after graduation.

As of June 30, 42.3 million people held more than $1.72 trillion in outstanding federal student loans, according to the Department of Education.

With the yearly sticker cost of attending some colleges surpassing the six-figure mark, many students and families turn to loans that can take years — or even decades — to repay.

Across the country, federal student loan borrowers carry an estimated average balance of $40,768 according to Business Insider’s analysis of the latest federal portfolio data released by the Department of Education.

The Department of Education reports the total outstanding federal loan balances and the number of borrowers by their current state of residence. Business Insider reviewed the department’s latest release and ranked all 50 US states by the average balance owed by borrowers living in each state.

While the federal data doesn’t reflect the colleges borrowers attended, where they took out their loans, or how much students currently borrow, it shows where borrowers live now and how the federal student loan portfolio is spread across the nation.

See how every state compares — and where borrowers owe the most on average.

50. North Dakota

Fargo is a the largest City in North Dakota on the Red River — Fargo, North Dakota.

Jacob Boomsma/Getty Images/iStockphoto

Balance: $2.7 billion

Borrowers: 88,400

Estimated average balance per borrower: $30,543

49. South Dakota

Panorama of Rapid City, South Dakota, USA — Rapid City, South Dakota.

EunikaSopotnicka/Getty Images/iStockphoto

Balance: $3.7 billion

Borrowers: 116,700

Estimated average balance per borrower: $31,705

48. Iowa

Des Moines, Iowa, USA skyline at dusk. — Des Moines, Iowa.

Sean Pavone/Getty Images

Balance: $13.5 billion

Borrowers: 423,400

Estimated average balance per borrower: $31,885

47. Wyoming

Rock Springs is the 5th Largest Town in Wyoming and a Stop on a Passenger Train Line — Rock Springs, Wyoming.

Jacob Boomsma/Getty Images/iStockphoto

Balance: $1.8 billion

Borrowers: 54,800

Estimated average balance per borrower: $32,847

46. Oklahoma

Tulsa, Oklahoma, USA downtown city skyline at twilight. — Tulsa, Oklahoma.

Sean Pavone/Getty Images/iStockphoto

Balance: $17.1 billion

Borrowers: 510,700

Estimated average balance per borrower: $33,483

45. Nebraska

Aerial View of Downtown Omaha, Nebraska in Autumn — Omaha, Nebraska.

Jacob Boomsma/Getty Images/iStockphoto

Balance: $8.2 billion

Borrowers: 243,500

Estimated average balance per borrower: $33,676

44. West Virginia

Structures dot the landscape of Wheeling Island in West Virgina — Wheeling Island, West Virginia.

ChrisBoswell/Getty Images/iStockphoto

Balance: $7.7 billion

Borrowers: 228,300

Estimated average balance per borrower: $33,728

43. Wisconsin

Looking south over Lincoln Memorial Drive at the Skyline — Milwaukee, Wisconsin.

Jon Mattrisch/Getty Images/iStockphoto

Balance: $24.0 billion

Borrowers: 709,100

Estimated average balance per borrower: $33,846

42. Rhode Island

Providence, Rhode Island, USA downtown cityscape viewed from above the Providence River. — Providence, Rhode Island

Sean Pavone/Getty Images/iStockphoto

State total balance: $5.1 billions

Borrowers: 149,700

Estimated average balance per borrower: $34,068

41. Indiana

Downtown Indianapolis skyline at twilight — Indianapolis, Indiana.

f11photo/Getty Images/iStockphoto

Balance: $31.0 billions

Borrowers: 898,500

Estimated average balance per borrower: $34,502

40. Kansas

Aerial panorama of Topeka, Kansas along the 10th Avenue. Topeka is the capital city of the U.S. state of Kansas and the county seat of Shawnee County — Topeka, Kansas.

Ultima_Gaina/Getty Images

Balance: $13.1 billion

Borrowers: 379,300

Estimated average balance per borrower: $34,537

39. Idaho

Downtown Boise, Idaho and the foothills — Boise, Idaho.

christiannafzger/Getty Images

Balance: $7.5 billion

Borrowers: 216,500

Estimated average balance per borrower: $34,642

38. Texas

Dallas skyline reflected in Trinity river at sunset, Texas — Dallas, Texas.

f11photo/Getty Images/iStockphoto

Balance: $138.3 billion

Borrowers: 3,949,800

Estimated average balance per borrower: $35,014

37. Kentucky

Lexington, Kentucky, USA Historic Downtown Skyline stock photo — Lexington, Kentucky.

Sean Pavone/Getty Images

Balance: $21.6 billion

Borrowers: 615,600

Estimated average balance per borrower: $35,088

36. New Mexico

Albuquerque, New Mexico, USA downtown cityscape at twilight. — Albuquerque, New Mexico.

Sean Pavone/Getty Images/iStockphoto

Balance: $8.0 billion

Borrowers: 226,000

Estimated average balance per borrower: $35,398

35. Utah

Park City, Utah, USA Downtown Skyline Aerial stock photo — Park City, Utah.

Kruck20/Getty Images

Balance: $11.1 billion

Borrowers: 313,300

Estimated average balance per borrower: $35,429

34. Arkansas

The Broadway Street Bridge spanning over the Arkansas River, in downtown Little Rock, Arkansas at sunrise. — Little Rock, Arkansas.

Derek Broussard/Getty Images

Balance: $14.5 billion

Borrowers: 408,400

Estimated average balance per borrower: $35,504

33. Minnesota

Rochester, Minnesota cityscape at summer sunrise features a river reflecting city lights. Skyscrapers and mid-rise buildings form the skyline, with varied architectural styles and heights. — Rochester, Minnesota.

RudyBalasko/Getty Images

Balance: $27.5 billion

Borrowers: 772,600

Estimated average balance per borrower: $35,594

32. Montana

Drone shot of Helena, Montana in December — Helena, Montana.

George Dodd/Getty Images

Balance: $4.5 billions

Borrowers: 126,400

Estimated average balance per borrower: $35,601

31. Nevada

Reno is the other, lesser known Gambling Oasis in Nevada — Reno, Nevada.

Jacob Boomsma/Getty Images/iStockphoto

Balance: $13.2 billion

Borrowers: 367,900

Estimated average balance per borrower: $35,879

30. Maine

Aerial panorama of Portland, Maine at dusk — Portland, Maine.

Ultima_Gaina/Getty Images/iStockphoto

Balance: $6.7 billions

Borrowers: 186,600

Estimated average balance per borrower: $35,906

29. Louisiana

New Orleans, Louisiana, USA Downtown Skyline Aerial — New Orleans, Louisiana.

Kruck20/Getty Images/iStockphoto

Balance: $25.1 billions

Borrowers: 694,000

Estimated average balance per borrower: $36,167

28. New Hampshire

Manchester, New Hampshire, USA Skyline on the Merrimack River at dusk. — Manchester, New Hampshire.

Sean Pavone/Getty Images/iStockphoto

Balance: $6.8 billion

Borrowers: 187,700

Estimated average balance per borrower: $36,228

27. Ohio

Cincinnati downtown overview early in the night — Cincinnati, Ohio.

AndreyKrav/Getty Images/iStockphoto

Balance: $64.3 billion

Borrowers: 1,770,800

Estimated average balance per borrower: $36,311

26. Missouri

Kansas City, Missouri, USA downtown skyline with Union Station at blue hour. — Kansas City, Missouri.

Sean Pavone/Getty Images

Balance: $30.6 billion

Borrowers: 826,500

Estimated average balance per borrower: $37,024

25. Massachusetts

Boston, Massachusetts, USA skyline. — Boston, Massachusetts.

Sean Pavone/Getty Images/iStockphoto

Balance: $33.4 billion

Borrowers: 900,600

Estimated average balance per borrower: $37,086

24. Arizona

Wide aerial panorama shows Tucson skyline and surrounding desert landscape in Arizona — Tucson, Arizona.

GummyBone/Getty Images

Balance: $34.0 billion

Borrowers: 916,100

Estimated average balance per borrower: $37,114

23. Alaska

Anchorage, Alaska skyline with the Chugach Mountains in the background — Anchorage, Alaska.

christiannafzger/Getty Images/iStockphoto

Balance: $2.4 billion

Borrowers: 64,500

Estimated average balance per borrower: $37,209

22. Pennsylvania

Philadelphia, Pennsylvania, USA in autumn overlooking Benjamin Franklin Parkway. — Philadelphia, Pennsylvania.

Sean Pavone/Getty Images/iStockphoto

Balance: $69.6 billion

Borrowers: 1,853,900

Estimated average balance per borrower: $37,542

21. Washington

The skyline of Bellevue, Washington, situated on the eastern shores of Lake Washington near Seattle stock photo — Bellevue, Washington.

Sean Davis/Getty Images

Balance: $29.6 billion

Borrowers: 776,100

Estimated average balance per borrower: $38,139

20. Connecticut

Hartford, Connecticut, USA downtown skyline. — Hartford, Connecticut.

SeanPavonePhoto/Getty Images/iStockphoto

Balance: $19.8 billion

Borrowers: 515,400

Estimated average balance per borrower: $38,417

19. Michigan

Downtown Lansing Michigan Capital Skyline — Lansing, Michigan.

Craig Rinzema/Getty Images

Balance: $53.2 billion

Borrowers: 1,377,300

Estimated average balance per borrower: $38,626

18. Tennessee

Skyline of downtown Nashville, Tennessee, USA. — Nashville, Tennessee.

SeanPavonePhoto/Getty Images/iStockphoto

Balance: $34.6 billion

Borrowers: 894,900

Estimated average balance per borrower: $38,664

17. Vermont

Montpelier town skyline at autumn in Vermont, USA — Montpelier, Vermont.

haveseen/Getty Images

Balance: $2.9 billion

Borrowers: 74,800

Estimated average balance per borrower: $38,770

16. Colorado

Skyline of Denver downtown with Rocky Mountains stock photo — Denver, Colorado.

miroslav_1/Getty Images/iStockphoto

Balance: $29.7 billion

Borrowers: 764,600

Estimated average balance per borrower: $38,844

15. Mississippi

Jackson, MS skyline including the State Capitol Building — Jackson, Mississippi.

CRobertson/Getty Images

Balance: $17.8 billions

Borrowers: 456,300

Estimated average balance per borrower: $39,009

14. Alabama

Drone Aerial View of Downtown Mobile Alabama AL Skyline. — Mobile, Alabama.

Kruck20/Getty Images

Balance: $26.0 billion

Borrowers: 664,000

Estimated average balance per borrower: $39,157

13. New Jersey

Dusk Falls on the Urban Downtown Metro Area of Newark New Jersey — Newark, New Jersey.

ChrisBoswell/Getty Images/iStockphoto

Balance: $48.4 billion

Borrowers: 1,235,500

Estimated average balance per borrower: $39,174

12. Oregon

City of Portland Oregon and Mount Hood in Autumn — Portland, Oregon.

4nadia/Getty Images/iStockphoto

Balance: $20.8 billion

Borrowers: 526,600

Estimated average balance per borrower: $39,499

11. California

Scenic view of downtown San Francisco California USA — San Francisco, California.

f11photo/Getty Images

Balance: $156.7 billion

Borrowers: 3,919,500

Estimated average balance per borrower: $39,980

10. South Carolina

Aerial view of the South Carolina skyline at dusk in Columbia, SC. Columbia is the capital of the U.S. state of South Carolina and serves as the county seat of Richland County — Columbia, South Carolina.

Ultima_Gaina/Getty Images

Balance: $31.4 billion

Borrowers: 782,300

Estimated average balance per borrower: $40,138

9. North Carolina

Drone Aerial of Downtown Charlotte, North Carolina, NC, USA Skyline. — Charlotte, North Carolina.

Kruck20/Getty Images/iStockphoto

Balance: $55.8 billion

Borrowers: 1,379,300

Estimated average balance per borrower: $40,455

8. Hawaii

Honolulu city with blue sky and clouds — Honolulu, Hawaii.

Jonathan Ross/Getty Images/iStockphoto

Balance: $4.9 billion

Borrowers: 121,000

Estimated average balance per borrower: $40,496

7. Delaware

Saturated early morning light hits the buildings and architecture of downtown Wilmington Delaware — Wilmington, Delaware.

ChrisBoswell/Getty Images/iStockphoto

Balance: $5.6 billion

Borrowers: 137,800

Estimated average balance per borrower: $40,639

6. New York

Brooklyn, New York, USA — May 8, 2026: Wide panorama of Lower Manhattan skyline viewed from Brooklyn Heights. — New York City.

jirigeorge/Getty Images

Balance: $99.9 billion

Borrowers: 2,456,600

Estimated average balance per borrower: $40,666

5. Illinois

Chicago, Illinois, USA downtown skyline from Lincoln Park at twilight. — Chicago, Illinois.

Sean Pavone/Getty Images/iStockphoto

Balance: $65.3 billion

Borrowers: 1,601,500

Estimated average balance per borrower: $40,774

4. Florida

the skyline of miami, florida — Miami, Florida.

frankpeters/Getty Images

Balance: $113.1 billion

Borrowers: 2,747,700

Estimated average balance per borrower: $41,162

3. Virginia

Roanoke, Virginia, USA downtown skyline. — Roanoke, Virginia.

SeanPavonePhoto/Getty Images/iStockphoto

Balance: $45.5 billion

Borrowers: 1,085,500

Estimated average balance per borrower: $41,916

2. Georgia

Panoramic Photo of The Downtown Atlanta Skyline — Atlanta, Georgia.

Sean Davis/Getty Images

Balance: $74.6 billion

Borrowers: 1,702,700

Estimated average balance per borrower: $43,813

1. Maryland

Baltimore, Maryland Aerial Skyline — Baltimore, Maryland.

Vito Palmisano/Getty Images/iStockphoto

Balance: $38.4 billion

Borrowers: 842,300

Estimated average balance per borrower: $45,589

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