Study Ranks Maryland #2 In The Nation For Highest Amount Of Student Debt - Page 6

Shocking? Maybe not. A recently released study has ranked Maryland second in the nation for the highest amount of student loan debt. The report released by ChamberofCommerce.org estimates that 808,600 student loan borrowers are in the state. Combined, student loan borrowers owe around $34.5 billion which leaves each individual about $42,666 in debt. Maryland only trails Washington D.C. The study comes after the U.S. Department of Education said it would forgive more than 804,000 federal student loan borrowers “to ensure all borrowers have an accurate count of the number of monthly payments that qualify toward forgiveness under income-driven repayment (IDR) plans.” However, that announcement followed the Supreme Court ruling against President Joe Biden’s plan to forgive up to $20,000 in federal student loan debt for all borrowers making less than $125,000 a year. To check out the full findings from the study, click here. Keep scrolling to see the top ten states. Get Breaking News & Exclusive Content in Your Inbox:  

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1. Washington D.C.

Total Debt: $6.1 billion

Borrowers: 111,200

Average Student Loan Debt: $54,856

2. Maryland

Total Debt: $34.5 billion

Borrowers: 808,600

Average Amount Of Debt:$42,666

3. Georgia

Total Debt:$65 billion

Borrowers: 1,607,400

Average Amount Of Student Loan Debt: $40,438

4. Virginia

Total Debt: $41 billion 

Borrowers: 1,060,000 

Average Amount Of Student Loan Debt: 38,679

5. Florida

Total Debt: $95.8 billion

Borrowers: 2,531,200

Average Amount Of Student Debt: $37,848

6. Illinois

Total Debt: $59 billion

Borrowers: 1,562,900

Average Amount Of Student Debt: $37,750

7. New York

Total Debt: $88.9 billion

Borrowers: 2,359,800

Average Amount Of Student Debt: $37,673

8. Hawaii

Total Debt: $4.3 billion

Borrowers: 115,300

Average Amount Of Student Debt: $37,294

9. Vermont

Total Debt: $2.8 billion

Borrowers: 75,100

Average Amount Of Student Debt: $37,284

10. California

Total Debt: $137.6 billion

Borrowers: 3,696,600

Average Amount Of Student Debt: $37,223