HOBOKEN, N.J.–A newly released report shows in which states students are carrying the most and least student debt, and further reveals which colleges’ students carry and most and least debt.
The annual Student Loan Debt by School by State Report published by LendEDU is based on a comprehensive analysis of student loan debt statistics for more than 1,000 colleges and universities throughout the United States.
“Student loan debt in the U.S. continues to be an issue of the utmost importance. The total outstanding student loan debt now stands at to $1.52 trillion, making it the second largest form of consumer debt behind only mortgages,” LendEDU said. “In terms of individual student debt, the average borrower from the Class of 2017 graduated with $28,288, an increase from $27,975 that the average Class of 2016 borrower was on the hook for.”
The report was compiled through the licensing of data collected from the annual Peterson’s financial aid survey.
Among the findings:
- The states in which students are carrying the least debt include Utah ($18,425), New Mexico ($21,805) and Nevada ($22,025).
- The states in which students are carrying the most debt include Pennsylvania ($36,193), Rhode Island ($35,371), and Delaware ($34,144).
- The public universities at which students have the lowest debt include Central Connecticut State ($5,831), University of North Texas at Dallas ($6,927), and Pennsylvania College of Technology ($7,218).
- The public universities at which students are carrying the most debt include Grambling State ($47,162), Penn State Shenango ($45,746) and Penn State Hazleton ($45,703).
The full report is available here.