How much student debt does New York have? See how it ranks in 2026
How much student debt do New Yorkers have compared to other states in 2026? Student debt can become a huge financial burden for people across the country, and debt totals continue to rise every year. According to the Department of Education, outstanding student loan balances at the end of the second quarter of 2026 exceeded $1.72 trillion. That amount, WalletHub determined, would translate to over $40,000 per borrower across 42.6 million Americans. "College keeps getting progressively more expensive, and so does borrowing money to attend," WalletHub Analyst Chip Lupo said. "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." The amount of student debt one takes on can vary from state to state, depending on factors like school tuition prices, scholarships and the types of loans. To determine which states loan borrowers have the most and least student debt, WalletHub compared all 50 states and the District of Columbia across 12 measures of student loan indebtedness and economic opportunity. Here's what to know about New York's ranking. Does New York State have a lot of student debt? New York ranked No. 33 out
