(USA FACTS) — Ahead of next month’s student loan forgiveness commencement, a report from Steve Ballmer’s non-profit USA Facts details a new state-by-state breakdown of which states will benefit most from cancelling federal student loan debt. The report reveals how much the average student loan borrower owes, listing New York at just under $39,000, roughly.
Under the student loan forgiveness plan, up to $10,000 in federal student loan debt will be cancelled for borrowers who earn less than $125,000 a year, or families earning less than $250,000. According to the report, the average student loan borrower owes more than $36,000, and the median student debt has more than tripled in the last 30 years.
According to the report, students in Maryland who took out loans, on average, owe the most, at roughly $43,619. North Dakota owed roughly $29,855 on average, which ranks the lowest of all the states. The full report, which was published on September 12, can be accessed on the USA Facts website, for more details.