By Paul Waldmiller
Did you know that Florida is one of the states with the least amount of student debt, ranked number 41 out of 50?
WalletHub’s 2024 report ranked Florida 41st out of 50 states and the District of Columbia (51) in terms of student debt, indicating a relatively low level of indebtedness among its residents.
According to a 2023 report highlighted that nearly half of Florida’s college students graduate with student loans, with 6% of them having private student loans averaging $30,232.
Our state has implemented various grants and scholarships to reduce borrowing among college students, and also offers student loan repayment assistance programs for graduates in certain fields, such as law, medicine, and education.
In contrast to some other states, Florida’s student debt burden is relatively manageable, with a smaller proportion of graduates leaving school with debt as compared to other states.
While student debt remains an issue and concern all across the United States Florida’s efforts to provide financial assistance and support to its students have contributed to its relatively lower ranking among states with high student debt burdens.