Baby Boomer Student Debt by State

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Millennials aren’t the only ones racking up billions of dollars in student debt.

Turns out, in three out of every four states, “the total outstanding student debt held by borrowers over age 60 increased by more than 50 percent [since 2012].” This data comes from the Consumer Financial Protection Bureau (CFPB), which also found that from 2012 to 2017, the number of baby boomers with student debt has increased by “at least 20 percent in every state.”

What’s even more shocking is the actual dollar amount of total baby boomer student debt for each state—Texas comes in at $6,760,220,000, and it didn’t even make the top three.

See how much baby boomer student debt your state has accumulated. (Hint: at the very least, it’s in the hundreds of millions of dollars.)

50. Wyoming

Total student balance for borrowers age 60 and older: $111,834,100

49. Alaska

Total student balance for borrowers age 60 and older: $147,871,000

48. North Dakota

Total student balance for borrowers age 60 and older: $185,125,700

47. South Dakota

Total student balance for borrowers age 60 and older: $266,013,100

46. Idaho

Total student balance for borrowers age 60 and older: $325,985,500

45. Montana

Total student balance for borrowers age 60 and older: $346,712,800

44. Vermont

Total student balance for borrowers age 60 and older: $347,352,700

43. Hawaii

Total student balance for borrowers age 60 and older: $387,892,000

42. West Virginia

Total student balance for borrowers age 60 and older: $416,178,800

41. Utah

Total student balance for borrowers age 60 and older: $467,623,300

40. Nebraska

Total student balance for borrowers age 60 and older: $521,516,000

39. Delaware

Total student balance for borrowers age 60 and older: $536,479,200

38. Maine

Total student balance for borrowers age 60 and older: $588,882,100

37. New Mexico

Total student balance for borrowers age 60 and older: $603,955,600

36. Rhode Island

Total student balance for borrowers age 60 and older: $609,235,400

35. Arkansas

Total student balance for borrowers age 60 and older: $620,612,800

34. Mississippi

Total student balance for borrowers age 60 and older: $672,880,700

33. Kansas

Total student balance for borrowers age 60 and older: $718,827,000

32. Nevada

Total student balance for borrowers age 60 and older: $735,935,000

31. New Hampshire

Total student balance for borrowers age 60 and older: $807,447,200

30. Kentucky

Total student balance for borrowers age 60 and older: $865,166,500

29. Iowa

Total student balance for borrowers age 60 and older: $881,100,300

28. Oklahoma

Total student balance for borrowers age 60 and older: $1,050,950,000

27. Louisiana

Total student balance for borrowers age 60 and older: $1,177,845,000

26. Oregon

Total student balance for borrowers age 60 and older: $1,249,198,000

25. Alabama

Total student balance for borrowers age 60 and older: $1,299,578,000

24. South Carolina

Total student balance for borrowers age 60 and older: $1,538,660,000

23. Wisconsin

Total student balance for borrowers age 60 and older: $1,542,771,000

22. Tennessee

Total student balance for borrowers age 60 and older: $1,653,585,000

21. Missouri

Total student balance for borrowers age 60 and older: $1,717,022,000

20. Arizona

Total student balance for borrowers age 60 and older: $1,854,555,000

19. Minnesota

Total student balance for borrowers age 60 and older: $1,873,396,000

18. Connecticut

Total student balance for borrowers age 60 and older: $1,902,854,000

17. Colorado

Total student balance for borrowers age 60 and older: $1,915,617,000

16. Indiana

Total student balance for borrowers age 60 and older: $2,029,478,000

15. Washington

Total student balance for borrowers age 60 and older: $2,056,024,000

14. North Carolina

Total student balance for borrowers age 60 and older: $2,489,550,000

13. Virginia

Total student balance for borrowers age 60 and older: $2,748,123,000

12. Georgia

Total student balance for borrowers age 60 and older: $3,345,422,000

11. Michigan

Total student balance for borrowers age 60 and older: $3,421,531,000

10. Maryland

Total student balance for borrowers age 60 and older: $3,559,640,000

9. Massachusetts

Total student balance for borrowers age 60 and older: $3,668,714,000

8. Ohio

Total student balance for borrowers age 60 and older: $4,637,882,000

7. New Jersey

Total student balance for borrowers age 60 and older: $4,742,573,000

6. Illinois

Total student balance for borrowers age 60 and older: $5,103,916,000

5. Texas

Total student balance for borrowers age 60 and older: $6,760,220,000

4. Pennsylvania

Total student balance for borrowers age 60 and older: $6,830,725,000

3. Florida

Total student balance for borrowers age 60 and older: $7,132,025,000

2. New York

Total student balance for borrowers age 60 and older: $9,181,882,000

1. California

Total student balance for borrowers age 60 and older: $11,274,120,000

Image: AIMSTOCK

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