States with the highest student debt burdens, according to data

Student loan debt continues to weigh heavily on millions of Americans, with borrowers collectively owing more than $1.72 trillion as of the end of the second quarter of 2026, according to the U.S. Department of Education.

The balance works out to more than $40,000 per borrower among roughly 42.6 million Americans with student loans, according to the department.

But the burden is not distributed evenly across the country.

A new analysis by personal finance website WalletHub found significant differences among states when it came to student debt. To identify where borrowers face the greatest challenges, the company compared all 50 states and the District of Columbia across measures including average student debt, unemployment among adults ages 25 to 34, and the share of borrowers with past-due balances.

Mississippi tops student debt ranking

Big picture view:

Mississippi ranked first in WalletHub's analysis of states facing the greatest student debt challenges.

According to WalletHub, the average amount owed by residents with student loans is equivalent to more than 54% of the state's median income, the highest rate in the country. The state also has the nation's highest student loan default rate, according to the analysis.

In addition, Mississippi ranked third-worst for job availability for students and second-lowest for the share of paid internships.

Delaware, Pennsylvania also face heavy burdens

Dig deeper:

Meanwhile, Delaware ranked second in WalletHub's analysis. Borrowers in the state owe an average of nearly $40,000, the second-highest amount nationwide, according to the study.

The average debt among Delaware residents with student loans is more than 39% of the state's median income, and about 60% of students in the state have student loans, WalletHub said.

Pennsylvania ranked third. The average student debt there exceeds $39,000, the third-highest amount in the country, according to WalletHub.The average Pennsylvanian with student loan debt owes an amount equal to about 43% of the state's median income, the fifth-highest ratio nationwide.

South Carolina and West Virginia rounded out the five states with the greatest student debt burdens in the WalletHub analysis.

What they're saying:

"College keeps getting progressively more expensive, and so does borrowing money to attend," Chip Lupo, a WalletHub analyst, said in a statement. "Federal student loan interest rates recently hit a 12-year high and remain elevated, making it important for borrowers to plan carefully when taking on student debt." 

He added, "In addition to attending college in a less expensive state and pursuing other avenues of funding like financial aid and grants, students should also carefully calculate how much they can afford to borrow before taking out a loan."

States with the most student debt

1. Mississippi
2. Delaware
3. Pennsylvania
4. South Carolina
5. West Virginia

See the full report here.

Student loan defaults reach record highs

Why you should care:

These findings come as student loan defaults are reaching record highs across the U.S. as borrowers struggle to make ends meet.

RELATED: Student loan defaults reach record highs: See where your state stands

According to an Associated Press analysis, roughly 9.5 million people – or 20% of federal student loan borrowers – are more than nine months behind on their payments. Defaults are up by 4.2 million following the end of a COVID-19-era student loan payment pause that kept borrowers from entering default.