Kansas student loan debt ranks 32nd of states nationwide
Kansas is home to 441,000 student borrowers owing a total of $10.9 billion in student loan debt, according to data released Tuesday by the White House. That calculates to an average of $24,787 of debt per borrower.
Kansas’ number of student borrowers is the 31st highest of all states, and the amount of debt ranks 32nd highest, according to the White House list of estimated outstanding balances and number of borrowers with outstanding direct loans or Federal Family Education Loans (FFEL) as of January.
The state-by-state numbers accompanied President Barack Obama’s announcement of his “Student Aid Bill of Rights.” Obama was scheduled to speak Tuesday morning at Georgia Tech, promoting the initiative and underscoring his affordable education plans.
As part of the initiative, Obama will sign a Presidential Memorandum directing the U.S. Department of Education and other federal agencies to take a series of steps to help borrowers afford their monthly loan payments, according to the White House.
The state-by-state data is intended to illustrate the number of borrowers who stand to benefit, the White House said.
Data was collected from a 4 percent sample of the National Student Loan Data System. In cases where current addresses were not available, about 20 percent of the sample, the White House used the state in which the borrower resided when last applying for a loan or the location of the last college attended.
Today nationwide, more than 70 percent of students earning a bachelor’s degree graduate with debt, which averages $28,400 at public and nonprofit colleges, according to the White House.
Kansas student loan debt v. neighboring states
Estimated outstanding balances and number of borrowers with outstanding direct loans or Federal Family Education Loans (FFEL) as of January, for Kansas and four neighboring states.
Missouri — 910,000 borrowers with $24.1 billion in debt (average $26,458 per borrower)
Colorado — 793,000 borrowers with $21.9 billion in debt (average $27,562 per borrower)
Oklahoma — 518,000 borrowers with $12.5 billion in debt (average $24,127 per borrower)
Kansas — 441,000 borrowers with $10.9 billion in debt (average $24,787 per borrower)
Nebraska — 283,000 borrowers with $6.8 billion in debt (average $24,112 per borrower)
Source: White House