States With The Most And Least Student Debt

Stacker looked at 2022 data from the Federal Reserve of New York to determine where student debt is hitting the nation the hardest. 

– Number of borrowers: 135,600 – Average loan balance per borrower: $28,218 South Dakota participates in the Teacher Loan Forgiveness Program, while the Dakota Corps Scholarship aims to help students in the state.

#51. South Dakota

– Number of borrowers: 261,000 – Average loan balance per borrower: $31,551 Primary care doctors, dentists, and other medical professionals are eligible for loan repayment awards in Nebraska if they practice in areas where there are shortages.

#45. Nebraska

– Number of borrowers: 215,500 – Average loan balance per borrower: $32,944 For students at risk of defaulting on loans, New Mexico offers student loan forgiveness and consolidation of debt.

#39. New Mexico

– Number of borrowers: 872,600 – Average loan balance per borrower: $36,682 The student loan delinquency rate for borrowers in Arizona was 8.7% at the end of 2021—down 3% from the previous year.

#16. Arizona

– Number of borrowers: 4,021,200 – Average loan balance per borrower: $37,783 In September 2020, California’s governor signed the Student Borrower Bill of Rights into law. 

#10. California

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