Here is the average student debt in Alabama
More than 40 million Americans have some $1.7 trillion in student debt. What will happen to this debt – and if all this will be forgiven via the intervention of the White House – that remains to be seen.
The average student debt in each state is $29 billion, according to the information from the Education Data Initiative. Overall, the most populous states — California, Texas, Florida and New York — have the highest student loan totals, at $141.8 billion, $120 billion, $100.9 billion. and $92.7 billion, respectively. The states that owe the least are Wyoming ($1.7 billion), Alaska ($2.3 billion), North Dakota ($2.5 billion) and Vermont ($2.9 billion). of dollars).
Residents of the District of Columbia have the highest average federal student loan debt in the nation, at $54,945 per borrower. North Dakota’s average federal student loan debt is $28,604, making it the only state with an average debt below $30,000.
Alabama’s average federal student loan debt exceeds the national average, according to the Initiative.
Here is the data from Alabama:
- $23.5 billion in federal student loans come from Alabama.
- $37,137 is the average student loan debt in Alabama.
- 632,800 Alabama residents have student loan debt.
- 50.3% of them are under 35 years old.
- 12.6% of Alabama residents have student loan debt.
- Among student borrowers with government debt, 16% owe less than $5,000.
- 20.9% owe between $20,000 and $40,000 (average $28,669).
- 2.1% owe more than $200,000.