MERIC NEWS LETTER

Missouri Student Debt Among 
Lowest in the Nation

With college costs rising faster than inflation, student debt has increased in the past decade and more students are accruing that debt. By the time they graduate, nearly two-thirds of students at four-year colleges and universities have student loan debt (66.4% in 2004), according to The Project on Student Debt. Less than one-half of four-year graduates had student loans in 1993.

Nationally, debt levels over the past decade for graduating seniors with student loans more than doubled from $9,250 to $19,200-a 108% increase (58% after accounting for inflation).i

The average student loan debt for Missourians is among the lowest in the nation, ranking 14th lowest in the U.S. at $16,505. In Missouri public school debt averaged $15,643 while private school debt was $18,181.

State Overall Average
Debt 2005
Rank Among States 2005 (Overall) Average 
Debt Public 2005
Rank Among States 2005 (Public) Average 
Debt Private 2005
Rank Among States 2005 (Private)
UT $11,709 1 $11,067 1 $13,309 1
HI $14,290 2 $12,841 3 $16,915 7
DE $14,728 3 $15,200 10 $13,728 2
MD $14,822 4 $14,154 4 $16,533 4
CA $15,203 5 $12,542 2 $21,596 36
KY $15,861 6 $16,224 23 $14,661 3
AK $16,011 7 $15,184 9 $31,494 48
WV $16,041 8 $14,924 7 $20,475 27
MS $16,065 9 $15,431 12 $17,853 9
GA $16,131 10 $15,292 11 $18,235 14
NM $16,137 11 $15,815 16 $18,921 18
CO $16,346 12 $15,840 17 $20,201 24
NJ $16,393 13 $14,658 6 $21,280 33
MO $16,505 14 $15,643 13 $18,181 13
VA $16,558 15 $16,124 20 $17,817 8
NC $16,661 16 $16,010 19 $18,069 12
NV $16,687 17 $16,662 29 $18,000 10
WY $16,741 18 $16,741 30 N/A N/A
KS $16,753 19 $16,448 26 $18,010 11
AR $17,004 20 $17,058 32 $16,844 6
OK $17,063 21 $15,813 15 $23,397 44
IL $17,089 22 $15,850 18 $18,431 15
TX $17,176 23 $16,400 24 $20,529 28
WI $17,224 24 $16,154 21 $20,987 30
MT $17,314 25 $16,539 27 $23,937 45
AL $17,599 26 $17,337 33 $18,683 17
AZ $17,678 27 $16,564 28 $32,504 49
SC $17,719 28 $18,228 34 $16,644 5
NE $17,792 29 $16,850 31 $19,546 19
MA $18,169 30 $14,326 5 $19,953 22
FL $18,303 31 $16,402 25 $21,282 34
NY $18,795 32 $15,015 8 $21,138 32
MI $18,942 33 $18,526 37 $21,020 31
LA $19,024 34 $18,751 39 $20,025 23
TN $19,165 35 $19,568 45 $18,641 16
USi $19,200

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$17,250 - ND -
OH $19,259 36 $18,854 41 $19,938 21
ID $19,299 37 $18,779 40 $24,310 46
OR $19,420 38 $19,050 43 $20,295 25
CT $19,440 39 $15,787 14 $21,769 38
VT $19,482 40 $18,875 42 $20,564 29
IN $19,518 41 $18,614 38 $21,679 37
WA $19,565 42 $18,399 36 $22,365 42
SD $19,724 43 $19,723 46 $19,729 20
ME $20,239 44 $19,185 44 $22,284 41
MN $20,560 45 $18,393 35 $23,208 43
PA $20,775 46 $20,113 47 $21,493 35
RI $20,798 47 $16,200 22 $22,216 40
ND $22,682 48 $22,839 49 $20,380 26
IA $22,727 49 $23,198 50 $22,184 39
NH $22,793 50 $21,469 48 $24,672 47
DC $20,846

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$16,270

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$21,211

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Student Debt and the Class of 2005: Average Debt by State, Sector, and School, The Project on Student Debt, August 2006, www.projectonstudentdebt.org 
ND=No Data

 iCalculations by the Project on Student Debt from the National Center for Education Statistics (NCES), National Postsecondary Student Aid Study (NPSAS), 1993 and 2004 Undergraduates, Data Analysis System (DAS).                                            

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