LAS VEGAS (KLAS) — Nevada residents owe $11.8 billion in student loan debt — an average of $33,743 per student borrower.
That’s not much, compared to the nationwide student debt of $1.6 trillion, carried by nearly 43 million Americans.
But it’s enough to put the state at No.32 on the list of states with the highest debt per borrower, right behind Alaska and ahead of Minnesota. The District of Columbia tops the list, with $54,945 per student borrower.
The numbers surrounding student loans are dizzying. If the Biden administration forgives some portion of student loans, it will affect a lot of people. A total of 349,700 people in Nevada have at least some student debt.
In total, California residents have the most student loan debt, with $141.8 billion. Less than 10% of people in the state (9.7%) have student loan debt -- a lower level than in Nevada, where 11.3% of the population has student loan debt.
A report released by the Education Data Initiative (educationdata.org) indicates about one of every 50 student borrowers in Nevada owe more than $200,000. On the lower end of the spectrum, 18% of Nevada's student borrowers owe less than $5,000. About 19% owe between $20,000 and $40,000.
And these are not necessarily college-age kids … only 47.5% of people with student loan debt are under 35.