Georgia borrowers carry some of the nation’s highest student loan debt

Georgia’s college students continue to shoulder some of the heaviest loan burdens in the country, according to a new national review of student financial stress. The report details the results of a survey from the Education Data Initiative, it included more than 1,000 undergraduate and graduate students.

The findings show that the average Georgia borrower owes $42,226, the second-highest average balance in the country. Georgia borrowers owe more than borrowers in Virginia, Florida, North Carolina and New York. Only Maryland has a higher average. 

Georgia also has the second-largest concentration of borrowers, with 15,384 student loan holders per 100,000 residents. Nationally, the questionnaire found that more than half of college students carry student loan debt. 

The average balance among respondents was $41,577, and students rated their overall financial stress at 3.4 out of 5. Many said the pressure is affecting their time on campus and their mental health. 

The report found that money issues make it harder for students to concentrate in class, keep up with assignments and imagine a clear path after graduation. Students also report that financial strain has led them to consider stepping away from school at some point.

National patterns echo stories that have surfaced on Georgia campuses in recent years, where students often balance long work schedules with rising living costs. 

For students in Atlanta and other metro areas who graduate with balances close to the state average, loan payments can resemble another major monthly bill stacked on top of rent, food and transportation.