LITTLE ROCK, Ark. – Paying off student debt is one aspect of life after college that really hits hard for most graduates, including Arkansans.
Data from the Education Data Initiative said that federal student loan debts in the U.S., including Puerto Rico and the District of Columbia totals to an average of $29 billion per state.
Data shows that Arkansas collectively owes $13 billion in student loan debt, averaging to $33,333 per person.
Out of the 390,000 student borrowers in the state, 13.0% of them have student loan debt. Data also shows that over half are under the age of 35.
Breaking down the state’s school debt numbers, data shows that 17.8% of state residents owe less than $5,000. Data shows that 20.1% of Arkansas graduates owe $20,000 to $40,000 while 1.5% owe more than $200,000.
To view the full report on student debt throughout the country, visit EducationData.org.