5 States with the Highest Student Loan Debt

4. New York

Total Borrowers: 2,629,860

Student Loan Balance: $98.53 billion

New York has a high burden of student debt, with an average borrower owing $37,460. This could be partly due to the high number of graduates (over half) attending private non-profit colleges, which typically have higher tuition fees.  A significant portion of residents in New York, roughly 1 in 5, carry some form of higher education debt, with student loans being the most common. In total, there are 2.6 million borrowers shouldering $98.5 billion in student loan debt.