Average Student Loan Payment in Every State

According to the Federal Reserve’s 2018-2019 Report on the Economic Well-Being of U.S. Households, the average student loan payment per month is between $200 and $299. The Federal Reserve also reported that the typical amount of student loan debt for those with outstanding debt was between $20,000 and $24,999.

These national averages can serve as a starting point for estimating the amount of debt you might have after finishing college. For more accurate estimates, it’s helpful to consider other variables, like your school type (public versus private), degree path and the state in which your school is located.

5 states with the highest student loan payments

• New Hampshire: $438
• Pennsylvania: $433
• Connecticut: $428
• Rhode Island: $418
• Delaware: $416

5 states with the lowest student loan payments

• Utah: $139
• New Mexico: $233
• Nevada: $236
• California: $239
• Wyoming: 260

Average student loan payment by state

Average student loan totals can vary widely by state due to varying degrees of public funding for schools, and available grants and scholarships for students.

Below, we list the average student debt and percentage of graduates for each state, using Class of 2019 data from the Institute for College Access and Success (TICAS). We’ve also calculated each state’s average student loan payment based on a standard 10-year repayment plan using the Student Loan Planner®’s repayment calculator.

Alabama

• Percentage of graduates with debt: 50%
• Average student debt: $29,791
• Calculated average student loan payment: $331

Alabama ranks near the middle on both average student debt (#23) and percentage of graduates with debt (#36). Since 2004, its average debt load per student has risen by 66%.

Alaska

• Percentage of graduates with debt: 48%
• Average student debt: $25,925
• Calculated average student loan payment: $288

Ranking #40 in both average student debt and percentage of graduates with debt, Alaska is just outside the top 10 of lowest student-debt states. However, its average debt per student has grown by 66% over the past 15 years.

Arizona

• Percentage of graduates with debt: 49%
• Average student debt: $24,712
• Calculated average student loan payment: $274

Arizona was one of the top 10 lowest-debt schools for the Class of 2019. Historical data also shows that its average student debt has only risen by 39% since 2004.

Arkansas

• Percentage of graduates with debt: 53%
• Average student debt: $26,679
• Calculated average student loan payment: $296

Arkansas ranks in the top half of states for both average student debt (#35) and percentage of graduates with debt (#34). Its 15-year change in average student debt was 65%.

California

• Percentage of graduates with debt: 47%
• Average student debt: $21,485
• Calculated average student loan payment: $239

Somewhat surprisingly, California ranks in the top 10 of states that have the lowest average student debt and percentage of graduates with debt. Its average debt per student has only risen by 34% over the past 15 years.

Colorado

• Percentage of graduates with debt: 50%
• Average student debt: $26,562
• Calculated average student loan payment: $295

Colorado is in the middle of the pack in both key student debt categories. Since 2004, its average debt load per student has risen by 62%.

Connecticut

• Percentage of graduates with debt: 56%
• Average student debt: $38,546
• Calculated average student loan payment: $428

Connecticut was one of the top 10 highest-debt schools for the Class of 2019 and has risen a whopping 104% since 2004. Thankfully, it fared a bit better in terms of percentage of students who graduated with debt.

Delaware

• Percentage of graduates with debt: 59%
• Average student debt: $37,447
• Calculated average student loan payment: $416

Delaware had the third-highest average student debt totals and was among the 20 states that had the highest percentages of indebted graduates. And at 153%, its 15-year change in average debt was the highest of all states.

Florida

• Percentage of graduates with debt: 48%
• Average student debt: $24,629
• Calculated average student loan payment: $273

Florida was one of the 10 lowest-debt schools in the TICAS report and it nearly cracked the top 10 for percentage of graduates with debt as well. Its 15-year change in average student debt was also a modest 30%.

Georgia

• Percentage of graduates with debt: 56%
• Average student debt: $28,081
• Calculated average student loan payment: $312

Both of Georgia’s key student debt numbers are neither markedly high or low. However, its 83%

growth in average debt from 2004 to 2019 is a bit concerning.

Hawaii

• Percentage of graduates with debt: 43%
• Average student debt: $23,577
• Calculated average student loan payment: $262

Hawaii ranks near the top in both student debt categories above, making it one of the lowest student-debt states. Prospective students should note, though, that the average student debt has risen by 75% since 2004.

Idaho

• Percentage of graduates with debt: 60%
• Average student debt: $25,942
• Calculated average student loan payment: $288

Idaho has a high percentage of students that graduate with debt. But thankfully the average debt totals are lower than average and have only risen 18% over the past 15 years.

Illinois

• Percentage of graduates with debt: 61%
• Average student debt: $29,666
• Calculated average student loan payment: $329

Illinois is one of the top 25 highest-debt states in both student debt categories. And it’s seen a massive 15-year change of 90% in average student debt.

Indiana

• Percentage of graduates with debt: 59%
• Average student debt: $28,112
• Calculated average student loan payment: $312

Arkansas ranks in the top half of states for both average student debt (#35) and percentage of graduates with debt (#34). Since 2004, it’s average debt load per student has risen by 66%.

Iowa

• Percentage of graduates with debt: 63%
• Average student debt: $30,259
• Calculated average student loan payment: $336

Iowa’s average student debt totals are high and it’s percentage of students that graduate with debt is one of the top worst. Thankfully, average debt has only increased by 25% since 2004.

Kansas

• Percentage of graduates with debt: 60%
• Average student debt: $26,788
• Calculated average student loan payment: $297

Kansas ranks in the top 25 for average student debt totals and bottom 25 for percentage of graduates with debt. Since 2004, it’s average debt load per student has risen by 65%.

Kentucky

• Percentage of graduates with debt: 58%
• Average student debt: $28,482
• Calculated average student loan payment: $316

Kentucky is near the middle of the pack in both student loan categories listed above. However, it’s 15-year increase in average debt is well above average at a dismal 100%.

Louisiana

• Percentage of graduates with debt: 48%
• Average student debt: $25,512
• Calculated average student loan payment: $283

Louisiana ranks in the top 10 of lowest-debt states and just outside the top 10 of states with the lowest percentage of students that graduate with debt. Its average student debt has also only risen by 34% since 2004.

Maine

• Percentage of graduates with debt: 67%
• Average student debt: $33,591
• Calculated average student loan payment: $373

Maine is one of the 10 worst states in both average student debt and percentage of students with debt. And its debt averages have risen by a dramatic 73% over the past 15 years.

Maryland

• Percentage of graduates with debt: 53%
• Average student debt: $30,303
• Calculated average student loan payment: $336

Maryland’s percentage of indebted graduates is higher than average, while it’s percentage of graduates with debt was closer to the middle. Its Class of 2019’s average debt load per student, however, was a frightening 141% higher than the Class of 2004.

Massachusetts

• Percentage of graduates with debt: 55%
• Average student debt: $33,256
• Calculated average student loan payment: $369

Massachusetts is one of the top 10 states with the highest average student debt totals. However, it does far better in the “percentage of graduates with debt” category at 55%, which is among the lowest in the country.

Michigan

• Percentage of graduates with debt: 59%
• Average student debt: $30,677
• Calculated average student loan payment: $341

Michigan’s average student debt totals are high as are the percentage of its students that graduate with debt. Its debt averages have also risen by 64% over the past 15 years.

Minnesota

• Percentage of graduates with debt: 66%
• Average student debt: $31,856
• Calculated average student loan payment: $354

Like Michigan, Minnesota ranks as one of the worst states for student debt in both key categories. Its average debt load per student rose by nearly the same percentage — 63%.

Mississippi

• Percentage of graduates with debt: 55%
• Average student debt: $31,651
• Calculated average student loan payment: $351

Mississippi’s average student debt is above average while its percentage of graduates with debt is below average. Its 15-year change in average debt was also one of the highest at 104%.

Missouri

• Percentage of graduates with debt: 57%
• Average student debt: $28,740
• Calculated average student loan payment: $319

Missouri comes in at the middle of the pack for both student loan categories listed above. But its increase in average debt per student since 2004 has been rather high at 85%.

Montana

• Percentage of graduates with debt: 57%
• Average student debt: $27,265
• Calculated average student loan payment: $303

Montana’s average student debt totals rank in the top-25 lowest and the percentage of its students that graduate with debt is right near the middle. Its 15-year increase in average student debt was relatively modest at 51%.

Related: 3 Options for Montana Student Loan Forgiveness

Nebraska

• Percentage of graduates with debt: 57%
• Average student debt: $26,026
• Calculated average student loan payment: $289

Nebraska’s debt totals and rankings are both very similar to that of Montana above. And its change in average debt since 2004 is nearly identical at 50%.

Nevada

• Percentage of graduates with debt: 46%
• Average student debt: $21,254
• Calculated average student loan payment: $236

Nevada ranks in the top 10 of states that have the lowest average student debt as well as lowest percentage of graduates with debt. Since 2004, its average student debt has risen by 50%.

New Hampshire

• Percentage of graduates with debt: 74%
• Average student debt: $39,410
• Calculated average student loan payment: $438

New Hampshire earns the dubious crown of being the worst state in both terms of average student debt and percentage of its students that graduate with debt. Further, its average debt totals have risen by 84% since 2004.

New Jersey

• Percentage of graduates with debt: 64%
• Average student debt: $33,566
• Calculated average student loan payment: $373

New Jersey also ranks as one of the worst student-debt states in both key categories. And at 107%, it has experienced an even higher increase in average debt over the past 15 years than New Hampshire.

New Mexico

• Percentage of graduates with debt: 45%
• Average student debt: $20,991
• Calculated average student loan payment: $233

Jumping all the way to the other end of the spectrum, New Mexico ranks as one of the best three states in both key student debt categories.

New York

• Percentage of graduates with debt: 58%
• Average student debt: $31,155
• Calculated average student loan payment: $346

New York is one of the worst 25 student-debt states in both key categories. Its average debt levels have risen by 65% since 2004.

North Carolina

• Percentage of graduates with debt: 55%
• Average student debt: $26,583
• Calculated average student loan payment: $295

North Carolina is near the middle of the pack when it comes to student debt averages, but both of it’s key numbers are slightly better than average. Its debt averages have risen by 58% over the past 15 years.

North Dakota

• Percentage of graduates with debt: 64%
• Average student debt: $32,745
• Calculated average student loan payment: $364

North Dakota ranks in the top 10 of states for both categories listed above. Its 15-year increase in average student debt was also low at 46%.

Ohio

• Percentage of graduates with debt: 60%
• Average student debt: $29,886
• Calculated average student loan payment: $332

Ohio is among the 25 highest-debt states and its percentage of graduates with debt is 12th-highest. Its 15-year average debt increase was 56%.

Oklahoma

• Percentage of graduates with debt: 47%
• Average student debt: $25,793
• Calculated average student loan payment: $286

Oklahoma is one of the best 25 student-debt states in both key categories. And its average student debt levels have only risen by 52% since 2004.

Oregon

• Percentage of graduates with debt: 54%
• Average student debt: $27,542
• Calculated average student loan payment: $306

Oregon’s student debt numbers are neither exceptionally high nor low. And the same goes for its 60% increase in average student debt over the past 15 years.

Pennsylvania

• Percentage of graduates with debt: 65%
• Average student debt: $39,027
• Calculated average student loan payment: $433

Pennsylvania is absolutely one of the worst states for student debt, ranking in the bottom 10 on both key categories. Its average debt totals also doubled (100% increase) from 2004 to 2019.

Rhode Island

• Percentage of graduates with debt: 59%
• Average student debt: $37,614
• Calculated average student loan payment: $418

Rhode Island is one of the five worst states in terms of average student debt is among the worst 20 for percentage of graduates with debt. Also, its average student debt levels have risen by 95% since 2004.

South Carolina

• Percentage of graduates with debt: 60%
• Average student debt: $31,524
• Calculated average student loan payment: $350

South Carolina is among the 15 states with the highest (worst) numbers in both key student debt categories. To make matters worse, its average debt per student has risen by 88% over the past 15 years.

South Dakota

• Percentage of graduates with debt: 74%
• Average student debt: $31,653
• Calculated average student loan payment: $351

In addition to higher than average student debt totals, South Dakota has the highest percentage of students who graduate with debt. Since 2004, its average student debt levels have risen by 66%.

Tennessee

• Percentage of graduates with debt: 60%
• Average student debt: $27,525
• Calculated average student loan payment: $306

Tennessee has lower-than-average student debt per student, but a high percentage of its students do graduate with debt. Its average student debt levels have increased by 63% since 2004.

Texas

• Percentage of graduates with debt: 48%
• Average student debt: $26,951
• Calculated average student loan payment: $299

Texas ranks in the top 20 of states that have the lowest average student debt as well as lowest percentage of graduates with debt. Its fifteen-year change in average student debt was 57%.

Utah

• Percentage of graduates with debt: 40%
• Average student debt: $17,935
• Calculated average student loan payment: $139

Utah earns the glorious crown of being the best state in both key student debt categories! Moreover, its average student debt has only risen by 45% since 2004.

Vermont

• Percentage of graduates with debt: 60%
• Average student debt: $30,566
• Calculated average student loan payment: $339

Vermont is a high student-debt state by both key measures. On the bright side, its 15-year change in average debt was a reasonable 48%.

Virginia

• Percentage of graduates with debt: 56%
• Average student debt: $30,574
• Calculated average student loan payment: $339

Virginia ranks near the middle of the pack in both average student debt and percentage of graduates with debt. Yet its increase in average student debt over the past 15 years was high at 93%.

Washington

• Percentage of graduates with debt: 50%
• Average student debt: $24,645
• Calculated average student loan payment: $274

Washington is one of the best states for student debt, ranking as one of the best in both key metrics. Its average student debt increase over the past 15 years was also remarkably low at 42%.

West Virginia

• Percentage of graduates with debt: 67%
• Average student debt: $29,272
• Calculated average student loan payment: $325

West Virginia ranks right in the middle for average student debt, but it’s percentage of students that graduate with debt is 3rd-worst. Its average student debt levels have risen by 60% since 2004.

Wisconsin

• Percentage of graduates with debt: 64%
• Average student debt: $31,550
• Calculated average student loan payment: $350

Wisconsin is one the 15 worst states in both average student debt and percentage of its students that graduate with debt. Average student debt has also risen by a massive 91% over the past 15 years.

Wyoming

• Percentage of graduates with debt: 46%
• Average student debt: $23,444
• Calculated average student loan payment: $260

Wyoming is one of the best states to attend school if you’re looking to avoid student debt. It ranks in the top 6 in both of the main student debt categories. And average debt levels have only risen by 53% since 2004.

Related: 3 Wyoming Student Loan Forgiveness Options You Need to Know

How to manage your student loan payments

Paying the bills can be tough enough without having to make room in your budget for a $200 to $300+ average student loan payment per month. But if you have federal student loans, joining an Income-Driven Repayment (IDR) plan could make your payments more manageable.

Depending on the IDR plan you choose, your monthly payments will be 10% to 20% of your discretionary income. And under each of the IDR plans, if you have a remaining balance at the end of your repayment period, it will be forgiven.

If you have private student loans, IDR won’t be an option for you. But if you have strong credit, you might be able to lower your interest rate and payments through student loan refinancing.

To learn more creative student loan repayment strategies, book an appointment with one of Student Loan Planner®’s expert student loan consultants.