10 states with most student debt

Check out the updated 2023 rankings of student debt: 10 states with the highest student loan debt

Where you live may end up affecting how much student debt you take on. 

Research compiled by the banking website CreditDonkey found that the amount of student debt varies significantly from state to state. In addition to a state's population, differing policies — such as the presence or lack thereof of forgiveness programs and the average cost of attendance of universities in the state — play a role in how much student loan debt people acquire. Iowa, for example, which has several student loan forgiveness programs, has the second lowest average of student debt at $29,900. Comparatively, Mississippi, which only has one such program, had an average student debt of $37,500 in 2021, according to The Federal Reserve Bank of New York.

Read More: What the Supreme Court's ruling on student loan forgiveness means for employees

Employers can ease the burden of student loan debt by offering repayment options and tuition reimbursement benefits. In addition to helping pay for tuition, these programs can cover the costs of other expenses like fees, books, and school supplies, potentially improving degree-seeking employees' sense of morale and job satisfaction. 

Read More: How student debt programs went from nice perk to critical benefit

With the federal student loan pause ending, it's more important than ever for people to remain cognizant of how and why they accumulate debt. To help readers keep an eye on education costs, here are the states with the highest amounts of student debt.