South Dakota Scores Least Student Debt In U.S.
And topping the list once again, South Dakota. Yes, the Rushmore State is making headlines again in a good way. Students who attend public college or university here reportedly have the least student loan debt.
As we have heard more and more this week about President Biden's student loan plan providing $10,000 in student debt cancellation for millions of Americans, and up to $10,000 more for those with the greatest financial need along with measures to lower the burden of repayment for their remaining federal student debt, South Dakota has the lowest average loan balance per borrower at $28,218.
How does that compare with states around us?
- Number of borrowers: 465,500
- Average loan balance per borrower: $29,845
#48 North Dakota
- Number of borrowers: 114,100
- Average loan balance per borrower: $30,542
- Number of borrowers: 261,000
- Average loan balance per borrower: $31,551
- Number of borrowers: 902,500
- Average loan balance per borrower: $33,161
The District of Columbia had the highest average loan balance per borrower at $53,769.
As Stacker.com reports, in 2021 average tuition at a public college or university rose to $37,600 for private, nonprofit colleges and $9,400 for public schools.