Federal student loan borrowers in Washington, D.C., owed an average of $55,846 each as of March 31, 2026, the highest among the states and D.C., according to Education Department figures. Maryland was next at $45,589, then Georgia at $43,813. The lowest averages were in North Dakota ($30,543) and South Dakota ($31,705).
California had the most borrowers, 3,919,500, owing $156.7 billion. In all, the federal portfolio was $1,724.5 billion owed by 42.3 million recipients at the end of June 2026, up from $1,665.6 billion a year earlier.
By state, March 31, 2026
| State | Balance | Borrowers | Average per borrower | Borrowers per 100 residents |
|---|---|---|---|---|
| District of Columbia | $6.4B | 114,600 | $55,846 | 16.3 |
| Maryland | $38.4B | 842,300 | $45,589 | 13.4 |
| Georgia | $74.6B | 1,702,700 | $43,813 | 15.2 |
| Virginia | $45.5B | 1,085,500 | $41,916 | 12.3 |
| Florida | $113.1B | 2,747,700 | $41,162 | 11.8 |
| Illinois | $65.3B | 1,601,500 | $40,774 | 12.6 |
| New York | $99.9B | 2,456,600 | $40,666 | 12.4 |
| Delaware | $5.6B | 137,800 | $40,639 | 13.1 |
| Hawaii | $4.9B | 121,000 | $40,496 | 8.4 |
| North Carolina | $55.8B | 1,379,300 | $40,455 | 12.5 |
| South Carolina | $31.4B | 782,300 | $40,138 | 14.3 |
| California | $156.7B | 3,919,500 | $39,980 | 9.9 |
| Oregon | $20.8B | 526,600 | $39,499 | 12.3 |
| New Jersey | $48.4B | 1,235,500 | $39,174 | 13.0 |
| Alabama | $26.0B | 664,000 | $39,157 | 12.9 |
| Mississippi | $17.8B | 456,300 | $39,009 | 15.5 |
| Colorado | $29.7B | 764,600 | $38,844 | 12.8 |
| Vermont | $2.9B | 74,800 | $38,770 | 11.5 |
| Tennessee | $34.6B | 894,900 | $38,664 | 12.4 |
| Michigan | $53.2B | 1,377,300 | $38,626 | 13.6 |
| Connecticut | $19.8B | 515,400 | $38,417 | 14.0 |
| Washington | $29.6B | 776,100 | $38,139 | 9.8 |
| Pennsylvania | $69.6B | 1,853,900 | $37,542 | 14.2 |
| Alaska | $2.4B | 64,500 | $37,209 | 8.7 |
| Arizona | $34.0B | 916,100 | $37,114 | 12.1 |
| Massachusetts | $33.4B | 900,600 | $37,086 | 12.6 |
| Missouri | $30.6B | 826,500 | $37,024 | 13.2 |
| Ohio | $64.3B | 1,770,800 | $36,311 | 14.9 |
| New Hampshire | $6.8B | 187,700 | $36,228 | 13.3 |
| Louisiana | $25.1B | 694,000 | $36,167 | 15.1 |
| Maine | $6.7B | 186,600 | $35,906 | 13.3 |
| Nevada | $13.2B | 367,900 | $35,879 | 11.3 |
| Montana | $4.5B | 126,400 | $35,601 | 11.1 |
| Minnesota | $27.5B | 772,600 | $35,594 | 13.3 |
| Arkansas | $14.5B | 408,400 | $35,504 | 13.2 |
| Utah | $11.1B | 313,300 | $35,429 | 8.9 |
| New Mexico | $8.0B | 226,000 | $35,398 | 10.6 |
| Kentucky | $21.6B | 615,600 | $35,088 | 13.4 |
| Texas | $138.3B | 3,949,800 | $35,014 | 12.6 |
| Idaho | $7.5B | 216,500 | $34,642 | 10.8 |
| Kansas | $13.1B | 379,300 | $34,537 | 12.8 |
| Indiana | $31.0B | 898,500 | $34,502 | 13.0 |
| Rhode Island | $5.1B | 149,700 | $34,068 | 13.5 |
| Wisconsin | $24.0B | 709,100 | $33,846 | 11.9 |
| West Virginia | $7.7B | 228,300 | $33,728 | 12.9 |
| Nebraska | $8.2B | 243,500 | $33,676 | 12.1 |
| Oklahoma | $17.1B | 510,700 | $33,483 | 12.5 |
| Wyoming | $1.8B | 54,800 | $32,847 | 9.3 |
| Iowa | $13.5B | 423,400 | $31,885 | 13.1 |
| South Dakota | $3.7B | 116,700 | $31,705 | 12.6 |
| North Dakota | $2.7B | 88,400 | $30,543 | 11.1 |
Averages and borrowers per 100 residents are our calculations from the Department’s figures, which are rounded to $0.1 billion and 100 borrowers; small states’ averages can be off by a few hundred dollars as a result. Residents are total population, all ages, from the Census 2024 ACS one-year estimates. A further $52.2 billion owed by 1,953,300 borrowers has no state, because commercial lenders holding older FFEL and Perkins loans do not have to report addresses, and $5.0 billion is owed by borrowers in territories or abroad.
The national total
The portfolio summary counts unduplicated recipients (the student, even on a parent PLUS loan), while the state file counts borrowers (the parent, on a parent PLUS loan), so the two totals differ.
What these numbers are
The figures cover federal Direct, FFEL and Perkins loans in an open status, including principal and interest, and not private student loans. Location is the borrower’s address as reported by the loan servicer. The data do not show whether borrowers are repaying. Delinquency by state is on our student loan delinquency by state page.
Source
U.S. Department of Education, Federal Student Aid Data Center, Federal Student Loan Portfolio: "Portfolio by Borrower Location" (data as of March 31, 2026) and "Portfolio Summary" (through fiscal year 2026 Q3), downloaded October 17, 2026. U.S. government data in the public domain. Our tables are available under CC BY 4.0. Credit "My Credit Guide (mycreditguide.org)".
Steven Reynolds, "Federal Student Loan Debt by State," My Credit Guide, October 17, 2026, https://mycreditguide.org/data/student-loan-debt-by-state/.