MOBILE, Ala. (WKRG) — President Joe Biden in August announced plans to cancel some student loan debt. More than 40 million Americans are expected to qualify for student loan forgiveness, and 20 million are likely to have their entire balance erased. This plan could impact a lot of borrowers in Alabama.

Now that borrowers can apply for student loan debt forgiveness, we’re looking at how much the average Alabama borrower has in student loan debt. Alabama borrowers owe more than the national average, according to the Education Data Initiative.

Alabama student loan borrowers have an average of $37,137 in student loan debt. The state’s 632,800 student loan borrowers have a combined $23.5 billion in student loan debt.

About half (50.3%) of student borrowers in Alabama are under the age of 35. 12.6% of Alabama residents carry student loan debt. Here’s how there debt breaks down:

  • 16% of indebted student borrowers owe less than $5,000
  • 20.9% of indebted student borrowers owe $20,000 to $40,000
  • 2.1% of indebted student borrowers owe more than $200,000

Indebted student borrowers in Florida owe an average of $38,459 for a total of $100.9 billion. In Georgia, the average student loan debt is $41,639 for a total of $68.6 billion. Indebted student borrowers in Mississippi owe an average of $36,902 for a total of $16.2 billion.

Federal student loan debt by state, highest to lowest average

StateAverage Borrower DebtState’s Total Debt
District of Columbia$54,945$6.5 billion
Maryland$42,861$35.9 billion
Georgia$41,639$68.6 billion
Virginia$39,165$42.4 billion
Florida$38,459$100.9 billion
South Carolina$38,414$28.1 billion
Illinois$37,757$61.6 billion
North Carolina$37,721$49.2 billion
New York$37,678$92.7 billion
Delaware$37,559$4.8 billion
Vermont$37,516$2.9 billion
Alabama$37,137$23.5 billion
California$37,084$141.8 billion
Oregon$37,017$20.1 billion
Mississippi$36,902$16.2 billion
Colorado$36,822$28.5 billion
Hawaii$36,765$4.5 billion
Tennessee$36,418$31.4 billion
Michigan$36,116$51.0 billion
Washington$35,510$28.0 billion
New Jersey$35,434$42.5 billion
Missouri$35,397$29.3 billion
Arizona$35,396$31.4 billion
Pennsylvania$35,385$64.5 billion
Connecticut$35,162$17.5 billion
Ohio$34,721$62.3 billion
Louisiana$34,525$22.5 billion
New Mexico$34,211$7.8 billion
Massachusetts$34,146$30.8 billion
New Hampshire$34,085$6.5 billion
Alaska$34,024$2.3 billion
Nevada$33,743$11.8 billion
Minnesota$33,604$26.5 billion
Arkansas$33,333$13.0 billion
Montana$33,149$4.2 billion
Maine$33,137$6.2 billion
Idaho$33,012$7.2 billion
Texas$32,920$120.0 billion
Indiana$32,874$29.8 billion
Utah$32,835$10.1 billion
Kentucky$32,779$19.7 billion
Kansas$32,578$12.5 billion
Rhode Island$32,056$4.6 billion
Nebraska$31,919$7.9 billion
Wisconsin$31,894$23.2 billion
West Virginia$31,690$7.2 billion
Oklahoma$31,525$15.4 billion
Wyoming$31,250$1.7 billion
South Dakota$30,954$3.6 billion
Iowa$30,464$13.2 billion
North Dakota$28,604$2.5 billion
Puerto Rico$28,242$9.3 billion
Other/Unspecified*$25,960$99.0 billion
From educationdata.org

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