Average Amount of Private Student Loan By State

Students who cannot get grants/scholarships or even federal student loan may seek private student loan to keep their life in campus. Usually, its interest rates are high relative to the federal student loan. In addition, it needs careful consideration for the loan provider. Besides the concerns, it may give a opportunity to build your future.

Here, we analyze and calculate average amount of private student loan per student who gets the private students loan by state.

Average Received Private Student Loan Amounts by State
Last Year, 164,544 students were helped by private students loan (around 10 % of total received numbers from any student loans.) The average amount of received private student loan for all colleges in all states was $ 7,883.  The average amount is higher than federal student loan ($ 5,950). We exclude 5 States or Region - American Samoa, Federated States of Micronesia, Marshall Islands,Northern Marianas and Palau  - because no student gets federal students loan in the states..

Table. Average Received Private Student Loan Amounts by State
StateNumber ReceivedAverage Amount
Alabama2,803$ 6,701
Alaska195$ 5,821
Arizona1,958$ 8,154
Arkansas350$ 6,041
California16,252$ 8,687
Colorado1,722$ 8,289
Connecticut1,855$ 10,967
Delaware397$ 9,667
District of Columbia403$ 14,586
Florida11,486$ 6,779
Georgia4,196$ 7,306
Hawaii84$ 7,989
Idaho207$ 6,038
Illinois6,364$ 8,953
Indiana3,990$ 7,040
Iowa2,307$ 6,755
Kansas554$ 7,238
Kentucky1,139$ 6,351
Louisiana1,576$ 5,815
Maine949$ 9,174
Maryland2,045$ 8,235
Massachusetts6,347$ 9,804
Michigan6,785$ 6,870
Minnesota6,665$ 7,291
Mississippi245$ 7,357
Missouri2,633$ 6,987
Montana189$ 7,890
Nebraska477$ 7,613
Nevada739$ 8,078
New Hampshire1,397$ 9,335
New Jersey9,610$ 8,395
New Mexico552$ 7,217
New York8,814$ 10,235
North Carolina2,860$ 7,674
North Dakota1,222$ 7,036
Ohio6,657$ 7,215
Oklahoma967$ 6,992
Oregon1,218$ 8,411
Pennsylvania12,065$ 9,836
Rhode Island1,145$ 12,529
South Carolina1,391$ 7,619
South Dakota744$ 7,028
Tennessee1,850$ 8,141
Texas17,341$ 5,489
Utah537$ 6,890
Vermont673$ 10,031
Virginia3,140$ 8,205
Washington1,597$ 8,295
West Virginia720$ 7,537
Wisconsin3,862$ 7,452
Wyoming838$ 7,360
Puerto Rico432$ 2,535
Average3,164$ 7,883
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